The satellite imagery providers industry in the Benelux region is gaining momentum as advancements in technology fuel demand for high-resolution images and data analytics. Companies in this sector operate in various fields such as agriculture, urban planning, and environmental monitoring. They leverage satellite technologies to offer solutions ranging from Earth observation to geospatial analysis, helping businesses make informed decisions. With interest from both private and public investors, the industry is expected to thrive, reinforcing its critical role in addressing global challenges like climate change, resource management, and smart city initiatives.


Among the 16 investors in this list, a mix of venture capital firms and corporate entities can be found, headquartered primarily in Belgium and Luxembourg. Ranging from small teams to larger organizations, these investors have varied backgrounds, with establishments dating back to the late 1800s. Most notable is the activity from 2024, where these investors participated in 99 deals collectively, showcasing robust support for the satellite imagery sector and indicating growth potential across the Benelux innovation ecosystem.


Top 16 Satellite Imagery Providers 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 also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Among its notable transactions, the EIC has provided grants to companies such as constellr, which raised approximately $2.7 million in March 2022, indicating its involvement in the satellite imagery sector. Additionally, the EIC has supported CARTO, a company that specializes in location intelligence and mapping, through grants and participation in funding rounds. These transactions highlight the EIC's active role in supporting innovative technologies related to satellite imagery and geospatial data.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In recent years, EIB has actively invested in the satellite and aerospace industry, providing significant funding to companies such as Spire Global, which raised €20 million to develop its satellite constellation and software applications. EIB also supported EnduroSat with $11.75 million in debt financing, and provided up to €18 million in venture debt to GomSpace for its nano-satellite platform innovations. Furthermore, EIB's €10 million grant to Quantum-Systems highlights its role in advancing technologies in the professional UAS mapping and surveillance industry, which is closely related to satellite imagery. These transactions illustrate EIB's commitment to fostering growth and innovation in the satellite sector, making it a relevant investor in this field.


3. 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 imagery sector, notably participating in multiple funding rounds for ICEYE, a leading SAR data provider, which raised significant capital in Series B, C, and D rounds totaling over $200 million. Additionally, OTB Ventures invested in Hydrosat, which raised $15 million in Series A funding, focusing on satellite data analytics. Their strategic support and capital provision aim to help these startups scale and succeed in global markets, particularly in the satellite imagery domain.


4. NewSpace Capital


NewSpace Capital is a private equity firm based in Luxembourg, founded in 2018, that specializes in growth investments within the space industry. The firm focuses on deep-tech companies that tackle global challenges, providing both investment management and strategic support. NewSpace Capital operates across various market segments, including Earth observation and telecommunications, primarily catering to businesses in the space technology sector. Notable transactions include a significant investment in ICEYE, which raised $87 million in a Series C round, highlighting their commitment to satellite imagery through advanced radar technology. Additionally, they invested in Simera Sense, which raised over $14 million in a Series A round, further emphasizing their focus on Earth observation technologies. Their involvement in these companies positions them as a relevant investor in the satellite imagery providers industry.


5. 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 such as 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 imagery sector, including grants to Alba Orbital, SpaceChain, and Addvalue Technologies, which are all engaged in satellite technology. Additionally, they supported Sanzar Group and Solaq, with the latter raising significant funds in a Pre-Seed round, indicating their commitment to fostering innovation in technology sectors, including satellite imagery.


6. Adara Ventures

  • Website: adara.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: adara-venture-partners

Adara Ventures is a venture capital firm based in Luxembourg, founded in 2005, that specializes in early-stage technology investments across Europe. The firm partners with visionary founders in various sectors, including cybersecurity, digital health, and data applications. Notably, in 2024, Adara Ventures invested in SatVu, which raised over $12 million in a venture round, indicating their engagement in the satellite imagery sector. Additionally, they have participated in other technology-focused investments, such as Quibim, a medtech company, and CounterCraft, a cybersecurity firm, showcasing their diverse investment portfolio while still maintaining a foothold in innovative technology areas.


7. Expon Capital

  • Website: exponcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: exponcapital

Expon Capital is a venture capital firm based in Luxembourg, founded in 2015. The firm specializes in seed and scale-up funding for technology-driven startups and growth companies, with a strong emphasis on social impact and the development of the Luxembourg startup ecosystem. Notably, Expon Capital has participated in funding rounds for Spire Global, a company that creates proprietary space-based data and analytics, and Hydrosat, which focuses on satellite data solutions. In 2017 and 2019, Expon Capital was involved in Series C and Series D funding rounds for Spire Global, respectively, contributing to the company's expansion and development of satellite-powered data services. Additionally, Expon Capital invested in Hydrosat during its seed and Series A funding rounds, further solidifying its role in the satellite imagery sector.


8. EIT Food

  • Website: eitfood.eu
  • Type: Corporate
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 37
  • LinkedIn: eit-food

EIT Food is a not-for-profit organization founded in 2016, based in Leuven, Flanders, Belgium. It is dedicated to transforming the food system through innovation, education, and entrepreneurship. EIT Food supports agrifood startups and entrepreneurs by providing resources, funding opportunities, and educational programs aimed at creating healthier and sustainable food solutions. Their initiatives engage various stakeholders, including businesses and the public, to foster collaboration and drive change in the food sector. Notably, EIT Food has been involved in funding Constellr, a company that is expanding its operations in North America with a focus on thermal satellites, which are crucial for agricultural monitoring and management. This investment highlights EIT Food's interest in leveraging satellite technology to enhance agricultural practices, making them a relevant player in the satellite imagery context. Additionally, they have supported other agritech startups like SENCROP and MyEasyFarm, further emphasizing their commitment to innovation in the agrifood sector.


9. Lrm

  • Website: lrm.be
  • Type: Venture Capital
  • Headquarters: Hasselt, Flanders, Belgium
  • Founded year: 1994
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: lrmnv

LRM is an investment company based in Hasselt, Flanders, Belgium, founded in 1994. It focuses on sustainable economic growth in the Limburg region by providing financing and expertise to startups, scale-ups, and mature companies. LRM is involved in various sectors, including real estate development and the reconversion of old mining sites. Notably, LRM has made significant investments in technology companies relevant to satellite imagery, such as Aerial Precision, which raised $757,781 in a seed round in August 2022, and xyzt.ai, which raised $1,067,065 in a seed round in October 2023. These investments highlight LRM's commitment to fostering innovation in sectors that intersect with satellite imagery.


10. Unknown Campus

  • Website: unknowngroup.com
  • Type: Venture Capital
  • Headquarters: The Hague, South Holland, Netherlands
  • Founded year: 2008
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: unknowngroup

Unknown Campus is a venture capital firm based in The Hague, South Holland, Netherlands, founded in 2008. The firm supports entrepreneurs and startups in scaling their impact-driven solutions, providing funding, consulting, and a collaborative environment through their impact hub, Titaan. In 2021, Unknown Campus made a significant investment in Terra Motion, a UK-based environmental land motion survey provider, which focuses on global expansion and technological advancements in land motion and climate products. Additionally, they invested in Geospatial Insight in 2017, a company that specializes in geospatial data and analytics, further emphasizing their involvement in the satellite imagery and geospatial technology sectors. Their diverse portfolio includes startups across various industries, but their specific investments in geospatial and satellite-related companies highlight their relevance in this field.


11. 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. The firm specializes in providing financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege, with a focus on funding, project structuring, and business development. Noshaq aims to foster growth and innovation by actively engaging with its clients and offering tailored financial assistance. Notably, Noshaq participated in the Series B funding round for Aerospacelab, which raised €40 million to enhance satellite production capacity and develop geospatial data fusion analytics capabilities. This investment highlights Noshaq's engagement in the satellite imagery sector, showcasing its commitment to supporting innovative companies in this field.


12. Orbital Ventures

  • Website: orbital.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2021
  • Headcount: 1-10

Orbital Ventures is a Luxembourg-based venture capital firm founded in 2021, specializing in logistics and technology solutions. The firm has a small team and has made several notable investments in the space sector. Among their key transactions, they participated in a Series B funding round for ALL.SPACE, raising $37 million in September 2021 and $40 million in February 2021, both of which are significant amounts that highlight their commitment to satellite communications. Additionally, they led a seed round for Ellipsis Drive, a spatial data sharing platform, which raised approximately €1.9 million. This investment is particularly relevant as it focuses on the exchange of spatial content, a critical aspect of satellite imagery. Furthermore, Orbital Ventures was involved in the funding of Isotropic Systems, which, while not solely focused on satellite imagery, operates within the aerospace and telecommunications sectors, indicating their broader interest in space-related technologies.


13. Rubio Impact Ventures


Rubio Impact Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2014. The firm specializes in impact investing, providing growth capital and strategic support to entrepreneurs addressing significant social and environmental challenges. Their investment areas include clean energy, mental health, and education, emphasizing collaboration with portfolio companies. Notably, Rubio Impact Ventures has invested in Vandersat, a company focused on satellite imagery, which raised an undisclosed amount in a Series A round in March 2020. This investment highlights their engagement in the satellite imagery sector. Additionally, they have participated in other transactions such as Sama and 30MHz, which, while not directly related to satellite imagery, showcase their active role in supporting innovative technology and data platforms.


14. 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 their challenges. Notably, the fund has participated in several relevant transactions, including an investment in Spherical Systems, a space startup focused on developing technology for extreme conditions, which could have applications in satellite imagery. Additionally, they have invested in Revolv Space, further indicating their interest in the space sector. Their portfolio also includes companies like MEJOR Technologies, which, while focused on wildfire detection, showcases their commitment to innovative technology solutions.


15. Capricorn Partners


Capricorn Partners is a venture capital firm based in Leuven, Belgium, founded in 1993. The firm specializes in venture capital, growth capital, and quoted equity funds, focusing on innovative companies across various sectors, including digital technologies, health, and clean technologies. Notably, they participated in a significant funding round for SpaceX, a leader in satellite manufacturing and space transport, which highlights their interest in the space sector. Additionally, they have invested in companies like icometrix and Sensolus, which, while not directly related to satellite imagery, showcase their commitment to supporting innovative technologies. Capricorn Partners aims to create both financial returns and strategic value for their clients, emphasizing responsible investing.


16. 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 based in The Hague, South Holland, founded in 2013, that focuses on regional development by providing innovation support, investment funding, and internationalization assistance to businesses, particularly startups and SMEs. The organization collaborates with various sectors to enhance economic growth and facilitate innovative projects. Among its notable transactions, InnovationQuarter has invested in Dawn Aerospace, a startup specializing in satellite propulsion systems, which highlights its engagement in the satellite industry. Additionally, it has participated in funding rounds for other technology-driven companies, such as Qualinx and Quantib, although these are less directly related to satellite imagery. Overall, InnovationQuarter's investment strategy reflects a commitment to fostering innovation, including in the satellite sector.



Satellite Imagery Providers Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
OTB VenturesAmsterdam, North Holland, Netherlands11-5020176
NewSpace CapitalLuxembourg11-5020183
Eureka NetworkEtterbeek, Brussels, Belgium11-5019851
Adara VenturesLuxembourg11-5020055
Expon CapitalLuxembourg1-1020152
EIT FoodLeuven, Flanders, Belgium51-200201637
LrmHasselt, Flanders, Belgium51-20019941
Unknown CampusThe Hague, South Holland, Netherlands51-20020082
NoshaqBelgium11-50198511
Orbital VenturesLuxembourg1-1020210
Rubio Impact VenturesAmsterdam, North Holland, Netherlands1-10201413
Graduate Entrepreneur FundNetherlands11-5020219
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
InnovationQuarterThe Hague, South Holland, Netherlands51-20020139


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