Kreios Space, a Spanish SpaceTech startup, secured €8 million in a Seed funding round. This Kreios Space funding was led by the NATO Innovation Fund and Berlin-based JOIN Capital. The investment will advance the company's proprietary air-breathing plasma propulsion system.
The Vigo-headquartered firm plans to launch its first two satellites into Very Low Earth Orbit (VLEO). Kreios Space develops Air-Breathing Electric Propulsion (ABEP), which uses atmospheric air as fuel. This system allows satellites to maintain low orbits without onboard propellant, a limitation for existing low-altitude systems.
Advancing European Space Autonomy
Operating satellites between 150 and 400 kilometers offers enhanced capabilities. This includes three times higher image resolution and direct-to-device broadband connectivity. These advancements are critical for defense, climate monitoring, and disaster response. The technology also supports European efforts to reduce dependence on non-European space infrastructure, contrasting with larger players like SpaceX Starlink or OneWeb.
This investment follows a €2.3 million raise in 2024. Kreios Space, founded in 2021, has grown to a 17-person team. The company has received support from the Spanish CDTI and the Spanish Space Agency (AEE) under the National Space Technology Programme. This reinforces Spain's commitment to space technology and satellite propulsion innovation.
The €8 million funding marks Europe's largest investment in VLEO Earth observation satellite technology to date.
