Bulgarian space technology company EnduroSat has raised $205mn in a funding round led by US firms Riot Ventures and Atreides Management, its largest financing round to date, EnduroSat said in a press release on September 16.

The company will use the funds to scale production of larger satellites, build a manufacturing plant in the United States and develop a space and defence hub near Sofia.

The round also includes Founders Fund, GV, Lux Capital, Omnes Capital, House Capital, Giant Ventures, Emphatic Capital, Endeavor Catalyst and the European Innovation Council Fund.

EnduroSat plans to manufacture satellites weighing between 500 kg and five tonnes, expanding beyond its current models with payload capacity of up to 300 kg.

The company is also developing a space and defence hub at the former Dobroslavtsi airbase near Sofia under a memorandum signed with the Bulgarian government last month. It has proposed investing more than €100mn in the project.

"Our job is to empower the innovators at the final frontier - eliminating complexity and tedious supply chains, and making their services profitable from the get-go. Now it's time to scale things up a notch," said Raycho Raychev, founder and CEO of EnduroSat. 

EnduroSat raised $104mn in October 2025. Its latest round brings total funding raised in the past 16 months to nearly $350mn, Capital reported.

"EnduroSat has already launched 103 satellites and delivered more than 200, and they’re just getting started," said Stephen Marcus, co-founder and managing general partner at Riot Ventures. "With the EU’s largest space and defense hub underway and a new manufacturing base being built in the United States, they’re building the industrial capacity to meet the speed and scale this market now demands."

EnduroSat, founded in 2015, employs more than 350 people and has more than 450 customers.