- Companies
- EnduroSat
EnduroSat Revenue, Valuation, Funding & Investors
EnduroSat is valued at $1B as of September 2026. EnduroSat revenue was $16M, as disclosed with its May 2023 round.
Last EnduroSat valuation
$1B
Series C · Sep 2026
Last EnduroSat funding round
$205M
Series C · Sep 2026
EnduroSat revenue
$16M
Series A · May 2023
Key investors in EnduroSat
GV
Founders Fund
Lux Capital
European Innovation Council
Riot Ventures
Ceecat Capital
About EnduroSat
EnduroSat is a Sofia, Bulgaria-headquartered manufacturer of CubeSats and small satellites up to 500 kg for Earth observation, communications, and scientific missions. The company delivers end-to-end services from its 17,000 square meter Space Center, including satellite design, integration, and mission operations. EnduroSat has launched over 120 satellites for NASA, ESA, and 350 commercial clients worldwide. Its platforms feature modular software for in-orbit reconfiguration and operate offices in the United States, France, Germany, Italy, and Luxembourg.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Product sales, Services
Revenue
$16M (May 2023)
Valuation
$1B (Sep 2026)
EnduroSat Valuation
EnduroSat is currently valued at $1B, based on its Series C in September 2026. Read the announcement ↗
The $205M round was led by Atreides Management and Riot Ventures, with participation from European Innovation Council, GV, Lux Capital, Giant Ventures, Endeavor Catalyst and 4 other investors.
EnduroSat's valuation has grown 8.7x from $115M at its Series A in May 2023 to $1B in September 2026, across 2 priced rounds.
EnduroSat valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2026 | Series C | $1B | - |
| May 2023 | Series A | $115M | 7.2x |
EnduroSat Revenue
EnduroSat's latest recorded revenue is $16M, as of its Series A in May 2023. At a $115M valuation, that implies a 7.2x revenue multiple.
EnduroSat revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2023 | $16M | $115M | 7.2x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
EnduroSat Funding History
EnduroSat has raised a total of $373M across 7 funding rounds.
EnduroSat's first fundraising round was a $1M seed round in November 2017. The most recent completed round was a $205M Series C in September 2026.
EnduroSat funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series C | Atreides Management (lead); Riot Ventures (lead); European Innovation Council; GV; Lux Capital; Giant Ventures; Endeavor Catalyst; Founders Fund; House Capital; Omnes Capital; Emphatic Capital | $205M | $1B | EnduroSat raised $205 million in a Series C financing announced on 16 September 2026, with Riot Ventures and Atreides Management co-leading the round and participation from the European Innovation Council, Google Ventures (GV), Founders Fund, House Capital, Lux Capital, Omnes Capital, Giant Ventures, Emphatic Capital and Endeavor Catalyst. The transaction was structured as an equity growth round for the Bulgaria-based space company, and the capital was positioned to support scaled satellite production and expanded manufacturing capacity in Europe and the United States. The financing was aimed at accelerating EnduroSat’s next phase of industrial scale-up, including a new high-volume manufacturing facility in the United States and a larger space-and-defense hub near Sofia. The company describes its model as standardized, software-flexible satellites and a constellations-as-a-service offering, targeting institutional and commercial customers that need faster satellite deployment and repeatable production. The round was presented as the company’s largest financing to date, underscoring investor backing for its manufacturing-led approach to the small-satellite market. EnduroSat is a Bulgarian space company based in Sofia that designs and manufactures satellites for smallsat and constellation applications. Its operations center on standardized spacecraft platforms and production scaling, with the new financing intended to expand operational footprint and increase manufacturing throughput. The company’s investor base in this round combined defense, deep-tech and venture capital firms, supporting both European industrial expansion and U.S. market growth. |
| Oct 2025 | Undisclosed stage | Riot Ventures (lead); European Innovation Council; GV; Lux Capital; Shrug Capital | $104M | - | EnduroSat, a Sofia-based aerospace company founded over a decade ago, designs, builds, and operates advanced small satellites and modules, providing integrated space services from mission design to operations. The company has delivered over 120 satellites, deployed more than 3,000 modules in orbit, downlinked 200 TB of data, and serves 350 global customers including 100 in the US, with 230 employees across six locations in Bulgaria, Colorado, France, and Germany. It focuses on software-defined satellites for small- to mid-sized constellations used in private communications, Earth observation, and scalable space data access. In late October 2025, EnduroSat closed a $104 million late-stage funding round (approximately €90 million) with participation from Riot Ventures, Google Ventures (GV), Lux Capital, European Innovation Council Fund, and Shrug Capital, marking its third major raise that year after a $43-50 million round in May led by Founders Fund. The capital will expand production capabilities, accelerate time-to-orbit, and support operations at its new 188,340-square-foot Space Center in Sofia, Bulgaria, equipped with advanced labs, clean rooms, and qualification facilities to manufacture up to two 200-500 kg ESPA-class satellites per day. EnduroSat's leadership, including CEO and founder Raycho Raychev, highlighted the investment as validation of market traction and a step toward cost-effective, scalable satellite constellations for universal space data access. Investors like Riot Ventures' Stephen Marcus and GV's Roni Hiranand praised the company's modular platforms, rapid manufacturing, and positioning for next-era connectivity and exploration. |
| May 2025 | Series B | Founders Fund (lead); Ceecat Capital; Morphosis Capital | $49M | - | EnduroSat is a Sofia-based aerospace company specializing in designing, building, and operating advanced small satellites and modules, offering a 'Satellite-as-a-Service' model that manages the full mission lifecycle from design to operations. The company has delivered over 120 satellites, deployed more than 3,000 modules in orbit, and downlinked 200 TB of data, serving over 210 global clients in commercial, scientific, academic, public, and defense sectors. On May 27, 2025, EnduroSat closed a €43 million funding round led by Founders Fund, with participation from CEECAT Capital, Morphosis Capital, and other existing investors. The capital is earmarked to scale production of Gen3 ESPA-class satellites (200-500 kg) featuring modular designs for applications like hyperspectral imaging and synthetic aperture radar (SAR), expand U.S. operations with a dedicated cleanroom, and construct a 17,500 m² Space Center in Sofia—one of Europe's largest space R&D hubs—aiming for up to 60 satellites per month or two per day by end of 2025. This round follows an earlier €20 million raise in February 2025 led by CEECAT Capital with Morphosis Capital acquiring a minority stake. A subsequent $104 million round in late 2025 (investors: Riot Ventures, Google Ventures, Lux Capital, European Innovation Council Fund, Shrug Capital) supported the Space Center's opening and further production scaling. |
| May 2023 | Series A | Ceecat Capital (lead); Freigeist Capital | $10M | $115M | EnduroSat is a Bulgarian spacetech company founded in 2015 by Raycho Raychev and Stanimir Gantchev, specializing in software-flexible nanosatellites and space services for business applications and exploration missions. The company has built over 2500 operational space systems and serves more than 210 customers worldwide with a team of over 130 engineers. In 2023, CEECAT Capital led a Series A round with a 10 million euro investment, joined by Freigeist Capital, unofficially valuing the company at a minimum of 100 million euros. The funds supported scaling operations, improving satellite technology, and expanding into constellation-as-a-service solutions. EnduroSat reported revenues of 27.1 million Bulgarian levs in 2023, doubling from 13.5 million levs in 2022, and achieved a net profit of 6.5 million levs after a 1.5 million levs loss the prior year. |
| Apr 2021 | Series A | Neo Ventures (lead) | $2M | - | - |
| May 2020 | Seed | Freigeist Capital (lead) | $2M | - | - |
| Nov 2017 | Seed | Neo Ventures | $1M | - | - |
Who has invested in EnduroSat?
16 investors have backed EnduroSat across its funding rounds, including GV, Founders Fund, Lux Capital, European Innovation Council, Riot Ventures and Ceecat Capital.
Lead investors include Atreides Management, Riot Ventures, Founders Fund, Ceecat Capital, Neo Ventures and 1 other investor.
EnduroSat Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Oct 2025 | ||
| 2 | Lead | May 2020 | ||
| 2 | Lead | May 2023 | ||
| 2 | Lead | Oct 2025 | ||
| 2 | Participant | Oct 2025 | ||
| 2 | Participant | Oct 2025 | ||
| 2 | Lead | Nov 2017 | ||
| 2 | Lead | May 2025 | ||
| 1 | Participant | May 2025 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Oct 2025 | ||
This data is available for Pro users. Sign up to see all 16 EnduroSat investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialEnduroSat Competitors
EnduroSat competitors include listed companies like Chengdu CORPRO Technology, Synspective, Hwa Create and Gilat Satellite Networks, and private ones like Huantian Wisdom and Sceye.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $413M | - | ||
| Publicly listed | $143M | $22M | $1B | 8.1x | ||
| Publicly listed | $15M | $6M | $1.1B | 29.8x | ||
| Publicly listed | $117M | $5M | $1.3B | 14.2x | ||
| Publicly listed | $452M | $45M | $599M | 0.9x | ||
| Private | - | - | $540M | - |
EnduroSat Public Comps
EnduroSat is still privately-owned, but its public comps include Plejd, Arcadyan Technology, Gosuncn Technology Group, Nexwise Intelligence, Ituran Location & Control, Chengdu CORPRO Technology, Tuya, Orbita Aerospace, Synspective and Fengzhushou.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95M | $32M | 10.4x | 8.1x | 30.6x | 21.9x | |||
| $1.6B | $129M | 0.5x | 0.5x | 6.0x | 5.8x | |||
| $299M | $7M | 3.3x | 3.4x | 149.6x | 132.3x | |||
| $128M | $13M | 11.1x | 11.4x | 112.4x | - | |||
| $359M | $93M | 2.6x | 2.3x | 10.2x | 8.6x | |||
| $143M | $22M | 7.7x | 8.1x | 50.9x | 20.4x | |||
| $322M | $22M | - | - | - | - | |||
| $42M | ($22M) | 27.0x | - | (51.9x) | - | |||
This data is available for Pro users. Sign up to see all EnduroSat competitors and their valuation data. Start Free Trial | ||||||||
Common questions about EnduroSat
| When was EnduroSat founded? | EnduroSat was founded in 2015. |
| Where is EnduroSat headquartered? | EnduroSat is headquartered in Sofia, Bulgaria. |
| Is EnduroSat publicly listed? | No, EnduroSat is a private, VC-backed company. |
| What is EnduroSat's valuation? | EnduroSat was last valued at $1B in its Series C in September 2026. |
| How much funding has EnduroSat raised? | EnduroSat has raised $373M across 7 funding rounds. |
| What was EnduroSat's last funding round? | EnduroSat's last funding round was a $205M Series C in September 2026, led by Atreides Management and Riot Ventures. |
| Who are EnduroSat's investors? | EnduroSat's investors include European Innovation Council, Freigeist Capital, Ceecat Capital, Riot Ventures, GV, Lux Capital, Neo Ventures, Founders Fund, Morphosis Capital, Atreides Management and 6 others. |
| What is EnduroSat's revenue? | EnduroSat's latest recorded revenue is $16M (May 2023). |
| What is EnduroSat's revenue multiple? | EnduroSat's latest valuation implies a 7.2x revenue multiple ($115M valuation on $16M of revenue). |
| Which companies are comparable to EnduroSat? | Companies comparable to EnduroSat include Huantian Wisdom, Chengdu CORPRO Technology, Synspective, Hwa Create, Gilat Satellite Networks and Sceye. |
See companies similar to EnduroSat
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




