Reflex Aerospace, a German satellite manufacturer, has successfully raised 50 million euros ($57.4 million), capitalizing on the growing interest and investment in European space systems. The Berlin-based company, which operates a "microfactory" in Munich, announced on Nov. 4 that this Series A round is the largest to date for a European NewSpace venture.
Human Element, a U.S.-based venture capital fund, spearheaded the round, with participation from Alpine Space Ventures, Bayern Kapital, HTGF, and other European investors. This funding injection will enable Reflex to expedite its plans for satellite constellations offering optical and radar imagery, space domain awareness, and signals intelligence capabilities. The company intends to utilize the funds to expand its manufacturing capacity, aiming to launch satellites demonstrating these capabilities by 2027.
Founded in 2021, Reflex launched its first satellite on a SpaceX Transporter mission in January 2025. The 109-kilogram SIGI satellite was developed for Media Broadcast Satellite (MBS), a German firm. Details regarding SIGI’s mission remain undisclosed by both companies, except for its remote sensing capabilities, although Reflex highlighted its development within just 13 months.
In a statement, Reflex emphasized the escalating need for military space capabilities as European governments increase their defense spending, including investments in space. "Europe cannot afford to remain reliant on external actors for space-based intelligence," stated Walter Ballheimer, chief executive of Reflex. "We will invest our own capital, we will work with the best partners in their respective domains, and we will act now because, in the current environment, there is no time to waste."
The company referenced Germany’s plan, announced in September, to allocate 35 billion euros to defense space systems through 2030 as an example of this trend. The government has yet to provide detailed information on how these funds will be distributed.
The European Space Agency (ESA) also intends to request 1.2 billion euros from its member states at its ministerial conference later this month for the initial phase of the European Resilience from Space program, including 750 million euros to initiate work on a constellation of optical and radar imaging satellites. Subsequent phases will be jointly funded by ESA and the European Commission, following a model similar to the Galileo navigation and Copernicus Earth observation programs.
The surge in military space spending is attracting private investment into satellite manufacturing. EnduroSat, a Bulgarian satellite maker, secured $104 million in a funding round announced on Oct. 30.
"While Europe is rebuilding its sovereign defense capabilities, Reflex is transforming how satellites are built, designing payload-centric buses that can be rapidly manufactured without costly megafactories," commented Christian Sullivan, managing partner at Human Element. "Their approach delivers the flexibility and speed needed to meet the growing ISR [intelligence, surveillance and reconnaissance] demand across Germany and allied markets." Human Element's investment portfolio includes several space companies, such as Albedo, Firefly Aerospace, and K2 Space, but Reflex marks its first venture into a European space company.
Sven Meyer-Brunswick, principal at Alpine Space Ventures, believes Reflex is advantageously positioned as Europe increases its space spending and consolidates its industrial base, particularly in light of Airbus, Leonardo, and Thales' plans to merge their space businesses into a joint venture. "Europe is left with too few, slow, and uncompetitive options in its space industrial base," he noted. Highlighting Reflex’s experience with the SIGI satellite, he added, "nobody is better positioned than Reflex to serve Europe’s and Germany’s demand to deploy sovereign satellite capabilities rapidly as the bloc tries to catch up."