Swissto12 raises $70 million to accelerate small GEO satellite production

Swissto12’s HummingSat leverages 3D-printing technology, aiming to reduce the size, cost and production time of GEO satellites. Credit: Swissto12

TAMPA, Fla. — Swissto12 said it has raised $70 million in fresh funding to keep up with growing demand for its small geostationary satellite manufacturing business.

The Series C funding round was announced July 16 as the Swiss firm reported more than $500 million in contracts for a business spanning satellite subsystems, antennas and multi-orbit payloads to HummingSat, its washing machine-sized satellite designed for geostationary orbit (GEO).

Emile de Rijk, Swissto12’s CEO, said the first of seven HummingSats ordered to date is slated for completion in 2027 for SES, a legacy operator with a long history of ordering traditional, GEO spacecraft closer in size to a school bus.

However, the emergence of low Earth orbit (LEO) broadband constellations has eroded demand for conventional GEO satellites, while giving rise to small GEO specialists offering cheaper, scaled-down spacecraft tailored to regional markets.