Kreios Space closes an EUR 8 million financing round led by the NATO Innovation Fund
Kreios Space, which specialises in very low Earth orbit (VLEO) technology, has closed an EUR 8 million financing round led by the NATO Innovation Fund and JOIN Capital
Kreios has developed its own plasma propulsion system, Air-Breathing Electric Propulsion (ABEP), which allows satellites to capture air from the atmosphere and use it as fuel, extending their useful life in very low orbits (150-400 km). This technology paves the way for VLEO satellites capable of delivering images with up to three times higher resolution and direct broadband connectivity to the device.
This is the largest European investment round in VLEO satellites and marks a milestone as it represents the first transaction in Spain by the financial instrument of NATO, created to promote emerging technologies that strengthen security and defence.
A team led by Miquel Campos and Antoni Rosselló advised Kreios Space on this transaction.
