FOSSA staff at the satellite operator's main office in Madrid, Spain. Credit: FOSSA
TAMPA, Fla. — Spanish startup FOSSA Systems has raised about $10.5 million to expand its connectivity constellation in a funding round that included a technology investment vehicle backed by Spain’s government.
The support from the Spanish Society for Technological Transformation (SETT) comes a year after the fund injected 14 million euros into Spain’s Sateliot, which is also developing a satellite connectivity network with security and defense applications.
Spanish private investment firm Kibo Ventures led FOSSA’s funding round, the six-year-old venture announced June 24, bringing its total raised to date to nearly 20 million euros.
The proceeds will help fuel FOSSA’s push beyond the tiny picosatellites it once used to connect low-power monitoring devices toward larger cubesats in low Earth orbit, enabling additional sovereign communications and space-based intelligence capabilities.
