The satellite manufacturing industry in Benelux is a vibrant sector that focuses on designing, constructing, and deploying satellites for a variety of applications. Companies in this sphere range from startups creating specialized nano-satellites to established firms working on large spacecraft for telecommunications and Earth observation. Noteworthy trends include increasing investment in small satellite technology and the growing interest in space-based services. A focus on sustainability and innovation drives advancements in materials and propulsion systems. As the demand for satellite data rises, this industry is poised for robust growth, fueling exploration, connectivity, and environmental monitoring.


The investors highlighted in this article include a mix of venture capital firms and corporate entities, primarily headquartered in Luxembourg and Belgium. Ranging in size from small teams to large organizations, they span various years of establishment from 1985 to 2021, with many actively investing in satellite technologies. In 2024, these investors collectively engaged in numerous deals, reflecting a vibrant interest in the satellite sector. The consistency in deal counts demonstrates their commitment to nurturing innovation within this dynamic industry.


Top 13 Satellite Manufacturing Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in significant funding transactions within the satellite manufacturing context, such as a €10 million grant awarded to NanoAvionics for the development of the Global Internet of Things (GIoT) nano-satellite constellation. Other relevant transactions include grants to ThrustMe and Dawn Aerospace, both of which are engaged in innovative aerospace technologies. These activities highlight the EIC's role in advancing satellite manufacturing and related technologies.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. In the satellite manufacturing context, EIB has been involved in significant transactions such as a venture debt financing agreement of up to EUR 18 million for GomSpace, a Danish space company specializing in nano-satellites, aimed at enhancing product innovation for high-frequency applications in telecommunications. Additionally, EIB has invested 20 million euros in Spire Global to support the development of a satellite constellation and new software applications. These investments highlight EIB's commitment to fostering advancements in the satellite manufacturing industry.


3. Boundary Holding


Boundary Holding is a venture capital firm based in Luxembourg, founded in 2016. The firm specializes in deep tech investments, focusing on technologies that enable the 4th industrial revolution. They provide funding and support to startups in the AI and technology sectors, helping them scale and innovate. Notably, Boundary Holding has invested in companies like Astrocast, which raised funds in a Series B round for satellite communications, and Asteria Aerospace, which raised funds for drone technology that can intersect with satellite operations. Additionally, they have invested in infiniDome, which focuses on GPS security, further emphasizing their interest in technology that supports satellite applications. Their clientele primarily consists of businesses in the technology industry seeking investment and strategic guidance.


4. M Ventures

  • Website: m-ventures.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 18
  • LinkedIn: merck-ventures

M Ventures is a venture capital fund based in Amsterdam, Netherlands, founded in 2009. The firm invests in transformative ideas primarily within the biotechnology and technology sectors, focusing on startups in healthcare, life sciences, and advanced technology. M Ventures provides funding and strategic guidance to help these startups achieve commercial success. Notably, they participated in the Series A funding of ALCAN Systems, a German startup developing smart antennas, which are essential for satellite communications. Additionally, they have been involved in various technology-focused investments, such as Polaris Electro-Optics and Metalenz, which, while not directly related to satellite manufacturing, indicate a broader interest in advanced technology solutions. Their investment strategy emphasizes collaboration with entrepreneurs to drive innovation and growth in their portfolio companies.


5. OTB Ventures

  • Website: otb.vc
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: otb-ventures

OTB Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2017. The firm specializes in early-stage investments in deep-tech startups across various sectors, including SpaceTech, AI, FinTech, and CyberSecurity. OTB Ventures has been actively involved in the satellite manufacturing context, notably participating in significant funding rounds for ICEYE, a leading SAR data provider that is expanding its satellite constellation. They contributed to ICEYE's Series B, C, and D funding rounds, which collectively raised substantial capital to enhance satellite capabilities. Additionally, OTB Ventures invested in ClearSpace, a company focused on sustainable space operations and debris removal, and Kurs Orbital, an Italian spacetech startup aiming to develop its first flight model. These transactions highlight OTB Ventures' commitment to supporting innovative companies in the satellite manufacturing and broader space industry.


6. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors including automotive, healthcare, and media, managing a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. In the context of satellite manufacturing, Exor has made significant investments in companies like Radian Aerospace, which raised $27.5 million to develop an orbital space plane, and Ursa Major, which secured $138 million to advance its rocket propulsion technologies. These transactions highlight Exor's commitment to supporting innovative companies in the aerospace sector, further solidifying its role as a relevant investor in satellite manufacturing.


7. NewSpace Capital


NewSpace Capital is a private equity firm based in Luxembourg, founded in 2018, that specializes in growth investments in the space industry. The firm focuses on deep-tech companies that address global challenges, providing both investment management and strategic support. NewSpace Capital operates across various market segments within the space technology sector, including Earth observation and telecommunications. Notable transactions include a significant investment in ICEYE, which raised $87 million in a Series C round for its satellite technology, and a recent investment in Simera Sense, which raised approximately $14.75 million in a Series A round. Additionally, NewSpace Capital led a funding round for Cailabs, a company expanding its laser communications and optical ground station business, further demonstrating its commitment to advancing satellite technology. These investments highlight NewSpace Capital's active role in the satellite manufacturing industry.


8. Noshaq

  • Website: noshaq.be
  • Type: Venture Capital
  • Headquarters: Belgium
  • Founded year: 1985
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: noshaq-be

Noshaq is a venture capital investment fund based in Belgium, founded in 1985, that provides financial solutions and strategic support to small and medium-sized enterprises (SMEs) primarily in the province of Liege. The firm focuses on funding, project structuring, and business development, particularly in sectors such as biotech and sustainable development. Notably, Noshaq has participated in significant transactions within the satellite manufacturing context, including a €40 million Series B funding round for Aerospacelab, which aims to enhance satellite production capacity and develop geospatial data analytics capabilities. This investment highlights Noshaq's engagement in fostering growth and innovation in the satellite industry, alongside their broader investment strategy.


9. Eureka Network


Eureka Network is a not-for-profit organization based in Etterbeek, Brussels, Belgium, founded in 1985. It facilitates international cooperation in research and development (R&D) and innovation, offering various funding programs like Eurostars and Globalstars to support SMEs, research organizations, and universities in their R&D projects. In recent years, Eureka has been involved in several transactions relevant to the satellite manufacturing industry, including grants to Alba Orbital, SpaceChain, and Addvalue Technologies, which highlight their commitment to supporting innovation in this sector. Additionally, they provided funding to Sanzar Group and Solaq, further demonstrating their active role in fostering technological advancements and collaborations in satellite manufacturing and related fields.


10. InnovationQuarter

  • Website: innovationquarter.nl
  • Type: Venture Capital
  • Headquarters: The Hague, South Holland, Netherlands
  • Founded year: 2013
  • Headcount: 51-200
  • Number of deals in 2024: 9
  • LinkedIn: innovationquarter

InnovationQuarter is a public entity focused on regional development in South Holland, providing innovation support, investment funding, and internationalization assistance to businesses, particularly startups and SMEs. Founded in 2013, the organization collaborates with various sectors to enhance economic growth and facilitate innovative projects. Notably, InnovationQuarter has invested in Dawn Aerospace, a startup specializing in satellite propulsion systems, which highlights its engagement in the satellite manufacturing industry. Additionally, it has participated in funding rounds for other technology-driven companies, such as Qualinx and Vaeridion, further showcasing its commitment to supporting innovative ventures across various sectors, including aerospace.


11. Graduate Entrepreneur Fund


The Graduate Entrepreneur Fund is a venture capital firm based in the Netherlands, founded in 2021. It specializes in providing funding and support to early-stage startups founded by alumni of the universities of Delft and Rotterdam. The firm typically invests between €75K to €2M, offering tailored support, coaching, and networking opportunities to help entrepreneurs navigate the challenges of starting and growing their businesses. Notably, the fund has participated in several transactions relevant to the satellite manufacturing sector, including investments in Revolv Space, a startup focused on space technology, and Spherical Systems, which is developing chips for extreme space conditions. Additionally, they have invested in Fusion Engineering, a flight control startup, further emphasizing their engagement in the aerospace and satellite industries.


12. Capricorn Partners


Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, the firm focuses on innovative companies across various sectors, including digital technologies, health, and clean technologies. They are committed to responsible investing, aiming to create both financial returns and strategic value for their clients. Notably, Capricorn Partners has been involved in significant transactions, including an investment in SpaceX, which secured $1 billion in funding to advance research in space transport, reusability, and satellite manufacturing. This involvement highlights their engagement in the satellite manufacturing sector, despite their broader investment strategy.


13. Forward Venture Capital

  • Website: forwardvc.com
  • Type: Venture Capital
  • Headquarters: The Hague, South Holland, Netherlands
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: forwardventurecapital

Forward Venture Capital is a venture capital firm based in The Hague, South Holland, Netherlands, founded in 2016. The firm supports early-stage entrepreneurs by providing investment and guidance to help them accelerate their growth. While Forward Venture Capital primarily focuses on various sectors, including digital commerce and SaaS, they have also shown interest in the satellite industry. Notably, they participated in a $4.7M seed funding round for Turion Space, a startup dedicated to satellite servicing and space debris removal. This investment highlights their engagement in the satellite manufacturing context, alongside other transactions in different sectors, such as their involvement in funding rounds for companies like Niricson and Graphmatech. Overall, Forward Venture Capital's diverse investment portfolio includes a significant transaction in the satellite sector, indicating their relevance in this field.



Satellite Manufacturing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
Boundary HoldingLuxembourg11-5020160
M VenturesAmsterdam, North Holland, Netherlands11-50200918
OTB VenturesAmsterdam, North Holland, Netherlands11-5020176
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
NewSpace CapitalLuxembourg11-5020183
NoshaqBelgium11-50198511
Eureka NetworkEtterbeek, Brussels, Belgium11-5019851
InnovationQuarterThe Hague, South Holland, Netherlands51-20020139
Graduate Entrepreneur FundNetherlands11-5020219
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
Forward Venture CapitalThe Hague, South Holland, Netherlands1-1020162


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