France’s U-Space Raises €24M To Build One Satellite Per Week

Investors in the round include Blast, Definvest, Expansion, CapSpace, ARIS, Primo Space, Audacia co-invest, and Vertech Finance, supporting U-Space’s next phase of growth.

“Avolta’s role was decisive in this fundraising. Their expertise in the SpaceTech market, their ability to structure a complex operation, and their strategic support enabled us to reach a key milestone in our industrial and international development. Their dedication and commitment by our side truly made the difference in this operation,” said Fabien Apper, President and co-founder, U-Space.

Together these funding rounds total around €94.9 million complementing U-Space’s Series A and highlighting a year of strong investor interest in European NewSpace ventures. France plays a leading role with two major deals (U-Space and UNIVITY) underscoring its strategic position in continental space manufacturing.

Read Also - Qorium Secures €22M To Scale Sustainable Leather

This activity comes amid a broader European discussion about the region’s role in the global space economy. According to EU-Startups, the SpaceTech sector could reach a €515 billion market value, with competition increasing between the EU, the UK and other international players.

In this context, U-Space’s funding represents a key French contribution to Europe’s efforts to boost industrial capacity and global competitiveness in satellite constellations and related infrastructure.

“Supporting U-Space in this €24 million fundraising perfectly illustrates our commitment to promoting the French technological excellence. The quality of the management team and their ability, today, to secure international contracts reinforce my conviction: U-Space will establish itself as one of the global leaders in NewSpace,” added David-Cyriaque Laurent, Senior Partner, Avolta.

Founded in 2018, U-Space designs, assembles, and operates modular satellites. Leveraging its 12U and FreeForm platforms and proprietary software, the 80-employee company aims to become Europe’s leading satellite constellation manufacturer.

In late 2024, U-Space inaugurated the U-Zine an 850 m² cleanroom facility in Toulouse. Inspired by automotive assembly lines, the fully digitised production line is modular and designed to eventually reach one satellite per day.

With three satellites in orbit (NESS, Soap, and Pandore) and a dozen more in production, U-Space covers the full spectrum from satellite design to in-orbit operations. The company is now targeting global markets, including the Asia-Pacific region and the Middle East, where space programmes are rapidly expanding.

The recent fundraising will support software development and full digitalisation of industrial tools, with the goal of producing one satellite per week by 2027, accelerating U-Space’s industrial and international growth.

About U-Space

U-Space designs and builds next-generation small satellites for medium-sized constellations, offering 12U and FreeForm microsatellites for civil, commercial and defense markets. The company supports clients from mission design to constellation operations and aims to facilitate access to space, advancing exploration and improving the human condition.