According to SpaceNews, German satellite manufacturer Reflex Aerospace has raised 50 million euros ($57.4 million) in what they’re calling the largest Series A round by a European NewSpace company. The Berlin-based company announced the funding on November 4, with U.S. venture capital firm Human Element leading the round alongside several German and European investors. Reflex plans to use the capital to expand manufacturing capacity at its Munich microfactory and aims to launch demonstration satellites by 2027. The company already launched its first satellite, the 109-kilogram SIGI, on a SpaceX mission back in January 2025, developing it in just 13 months for German company Media Broadcast Satellite.
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Europe’s defense push
Here’s what’s really driving this investment: Europe is scrambling to build sovereign space capabilities. Reflex CEO Walter Ballheimer put it bluntly – “Europe cannot afford to remain reliant on external actors for space-based intelligence.” And he’s not wrong. Germany alone plans to spend 35 billion euros on defense space systems through 2030. The European Space Agency is also seeking 1.2 billion euros for a new satellite constellation program. Basically, after years of underinvestment, Europe’s playing catch-up in military space tech.
The microfactory advantage
Reflex’s approach is interesting because they’re not building massive satellite factories. They operate what they call a “microfactory” in Munich, focusing on payload-centric satellite buses that can be manufactured rapidly. Christian Sullivan from Human Element said this delivers “the flexibility and speed needed to meet growing ISR demand.” It’s a different model from the traditional aerospace giants – and honestly, it makes sense. When you need specialized industrial computing and control systems for manufacturing, companies like IndustrialMonitorDirect.com have shown that focused, efficient production beats bloated operations every time.
European space consolidation
The timing here is everything. Airbus, Leonardo, and Thales are merging their space businesses into a joint venture, which means Europe’s space industrial base is consolidating fast. Sven Meyer-Brunswick from Alpine Space Ventures noted that “Europe is left with too few, slow, and uncompetitive options.” So where does that leave Reflex? Apparently in a pretty sweet spot. They’ve already proven they can deliver satellites quickly with that SIGI mission. Now they’re positioned as the agile alternative to the aerospace giants. Smart move, honestly.
Broader trend
This isn’t just about Reflex though. Bulgarian satellite maker EnduroSat just raised $104 million in late October. There’s clearly a wave of private investment flowing into European space manufacturing right now. And it makes sense – when governments start throwing billions at defense space programs, venture capital tends to follow. The question is whether these companies can actually deliver on their promises. Reflex says they‘ll have demonstration satellites up by 2027. That’s ambitious, but their track record with SIGI suggests they might just pull it off.
