The Brightest Stars in Europe’s SpaceTech

Robert Pomohaci-Ashcroft

Innovation Scout

Half a decade ago, humanity was gripped by the race for space. The USA and USSR were pouring significant funding into their national space programmes, trying to outdo each other by going further than ever before.

The past 10-20 years have seen a shift in the landscape. Space has opened up from the playground of national agencies to commercial enterprises taking the lead. Obviously, there is one American company that naturally comes to mind when we speak of SpaceTech: SpaceX.

With 129 rocket launches, 1.5 million kgs of payload delivered to orbit, a yearly revenue of over £10 billion and a valuation estimated around £300 billion, you would not be the only one thinking “surely they have a monopoly, no one else has a chance!”.

While SpaceX’s leadership position is undeniable, it does not mean they are the only company worth looking at. In this week’s edition of Industry Standouts, we shine a spotlight on some of the top innovators in NewSpace from Europe:

HyImpulse: a German company developing next-generation small launchers powered by a hybrid-fuel rocket engine. They use a solid and liquid propellant mix, which offers a safer and more cost-effective way to get to orbit. This technology has been tested with a suborbital flight of the SR75 rocket in May 2024 from the Koonibba Test Range in Australia. They have recently closed a Series A funding, bringing their total funding raised to £64 million.

CEO: Christian Schmierer

D-Orbit: an Italian space logistics & mobility company that provides orbital deployment, in-orbit transportation, and mission services. It has secured contracts from commercial satellite operators and institutional space agencies. As of June 2025, they have already launched 19 missions of their ION Satellite Carrier programme. D-Orbit is also working on developing technology for in-orbit servicing of satellites. They are currently at Series C, having raised £191 million in funding.

Founder & CEO: Luca Rossettini
Founder & COO: Renato Panesi

ICEYE (alumni of our Lloyd’s Lab cohort 7): a Finnish company which operates the world’s largest commercial radar satellite constellation, providing reliable Earth imagery in any weather or lighting. Its SAR technology powers near real-time monitoring for clients like the U.S. NGA, ESA, NASA, Swiss Re, and Aon, supporting flood mapping, disaster response, and defence intelligence. Backed by over £370 million from investors such as Seraphim Space and True Ventures, ICEYE is redefining how governments and insurers observe and respond to events on Earth.

Founder & CEO: Rafal Modrzewski
CEO: Eric Jensen
Founder & Chief Strategy Officer: Pekka Laurila

Exotrail: a French space-mobility startup delivering electric propulsion modules and in-orbit mobility services for smallsat and cubesat constellations. It is currently at Series B, having raised over £50 million in funding to scale its propulsion hardware and in-orbit services business. Exotrail works with multiple satellite manufacturers and constellation operators, as well as space agencies and industrial partners in Europe who use its propulsion systems for manoeuvring, station-keeping, and deorbiting.

Co-Founder & Chief Quality & Intra Officer: Nicolas Heitz
Co-Founder & Chief Scientist: Paul Lascombes
Co-Founder & CEO: Jean-Luc Maria
Co-Founder & COO: David Henri
US CEO: Brian Holt

Aiko Space: an Italian company which develops AI software platforms for satellite operations and data analytics. Their tools support mission planning, in-orbit diagnostics, real-time health monitoring, and provide software-defined capabilities that help satellite operators control and optimise their spacecraft remotely. They are at Series A and have raised £5.6 million in funding so far.

CEO: Lorenzo Feruglio

The European space sector employs over 68,000 people and generated £7.6 billion in sales in 2024, growing 3% year-over-year, according to Eurospace, the association of the European space manufacturing industry. Investment is also surging. The European Space Policy Institute reported £1.3 billion flowing into European space companies in 2024, a 54% increase year-over-year. With this surge in capital and momentum, the future looks promising for space tech companies as Europe positions itself as a major force in the global space economy.

We’d like to hear from you

If you’re active in the SpaceTech area, whether as a founder, investor, coach, or tech partner, we’d love to connect. Reach out to robert@lmarks.com.