French startup U-Space has raised €24 million ($27.8 million) to expand its role in the small satellite constellation market.
With funding from the Series A round, Toulouse-based U-Space will develop the software to ramp-up to production of one satellite per week by 2027. Eventually, U-Space seeks to manufacture one satellite per day for global constellations.
The investment round announced Nov. 12 was led by Blast’s Definvest fund managed by Bpifrance for France’s Ministry of Armed Forces, and Expansion Venture Capital. Also participating in the round were: Primo Capital, Karot Capital, ARIS Venture Capital and Vertech Finance.
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