Spanish startup Kreios Space has secured 8 million euros ($9.3 million) from the NATO Innovation Fund and JOIN Capital to advance its Very Low Earth Orbit (VLEO) satellite technology.
Kreios’ system enables ultra-high-resolution imaging and faster direct-to-device communications.
This capability supports advanced applications, such as surveillance, tactical communications, and adaptable satellite deployment from orbits closer to Earth than conventional models.
The funds will provide resources for two test satellites, including the first in-orbit demonstration of the Air-Breathing Electric Propulsion system, enabling operations at altitudes below 400 kilometers (248 miles).
“We’re not just building satellites, we’re opening up an orbit that was written off as impossible,” said Adrián Senar, CEO and co-founder of Kreios Space.
“Very Low Earth Orbit gives Europe sharper eyes, faster connectivity, and greater independence in space. With this funding, we’ll prove the technology in orbit and make VLEO a domain where Europe leads, not follows.”
The recent funding announcement builds on the 2.3 million euros ($2.6 million) raised in 2024 to advance its technology development.
Headquartered in Vigo, northern Spain, Kreios has advisory support from experts at Thales, JAXA, and ESA.
Funding Innovation
Funding from the NATO Innovation Fund and JOIN Capital supports initiatives developing advanced space technologies for defense and commercial applications.
The NATO Innovation Fund is a 1-billion-euro ($1.1 billion) venture capital initiative backed by 24 NATO allies.
It invests in European deep tech projects that address defense, security, and resilience challenges.
The fund helps portfolio companies access both commercial and government markets while supporting the development of innovative technologies.
JOIN Capital is an early-stage pan-European venture capital fund with offices in Berlin, London, and Milan.
Since 2017, it has backed founders developing deep tech solutions across enterprise, industrial, space, and defense sectors, managing over 150 million euros ($176 million) in its current fund.
