France’s U-Space Raises €24M Series A to Scale Smallsat Production

French smallsat manufacturer U-Space has closed a €24 million Series A round to accelerate industrial expansion and pursue global constellation opportunities. The raise was led by Blast, Definvest (the French Ministry of Armed Forces’ fund managed by Bpifrance), and Expansion, with participation from Primo Space, Karot Capital, ARIS, and Vertech Finance.

The company has already placed three satellites in orbit, with around ten more slated for delivery over the next year, and has secured contracts with major institutional players including CNES and Safran. Investors cited U-Space’s technical maturity, early flight heritage, including Europe’s first space-based SSA satellite, and its position within the smallsat value chain as key drivers of confidence.

Backed by new capital, U-Space will scale its production capability through its “U-Zine” industrial facility, an 850 m² cleanroom designed to support high-volume manufacturing. The company’s roadmap targets one satellite per week by 2027, ultimately ramping to one per day for constellation customers. A parallel investment in software and automation will underpin this shift to serial production.

The company is also poised to expand internationally, building on recent wins with the UAE’s NSSTC and pursuing opportunities in the Asia–Pacific and Middle East regions.

SOURCE: https://www.u-space.fr