The startup Kreios Space, a participant in BFAero, founded in 2021 and specialized in very low Earth orbit (VLEO) satellites, has closed an oversubscribed €8 million seed investment round. Led by the NATO Innovation Fund and Join Capital, this marks the largest European funding round for VLEO technologies. The operation also received backing from investors who had already supported the company in its 2024 pre-seed round, including Xesgalicia, Grow Venture Partners, and Tasivia Global.
This is the NATO fund’s first investment in a Spanish company—an important milestone that places Galicia on the European aerospace innovation map and reinforces its strategic commitment to defense and security as engines of highly skilled employment. It represents recognition of the strategy promoted by the Autonomous Community in recent years to establish itself as a European aerospace innovation hub. Initiatives by the Xunta de Galicia such as BFAero, IGAPE’s support for the new vacuum testing center, and the talent fostered at the University of Vigo are key elements of an ecosystem already competing internationally.
Founded in 2021 by Adrián Senar, Jan Mataró, Francisco Boira, Adrià Barceló, Max Amer, and Francisco Bosch, Kreios develops satellites that orbit lower than usual in VLEO, powered by its proprietary propulsion system. Based on Air-Breathing Electric Propulsion (ABEP) technology, this system enables satellites to operate at about 200 kilometers above Earth—an altitude previously deemed impossible due to atmospheric drag. By using atmospheric air itself as propellant, Kreios satellites can remain in orbit for years instead of days, unlocking a new orbital region with far-reaching implications for defense, connectivity, and sovereignty.
VLEO satellites capture images with three times the resolution of today’s satellites, providing benefits in applications ranging from wildfire detection to the protection of critical infrastructure. Their proximity to Earth also enables direct-to-device broadband communications without bulky antennas, paving the way for truly global and resilient connectivity. For Europe and NATO, mastering this technology strengthens operational independence, reduces reliance on the United States, and supports ambitions to build sovereign space capabilities. From Vigo, Kreios Space aspires to become the first company capable of sustaining satellites in VLEO indefinitely.
Galicia on the International Space Map
Kreios Space currently employs 17 people, half of whom are Galician—including some who returned after careers abroad. Eighty percent of its hires are highly qualified engineers and technicians, and the company has seven additional open positions in Vigo.
Institutional support from the Xunta de Galicia has been critical for Kreios Space’s R&D. Adrián Senar, CEO and co-founder, emphasizes: “Xesgalicia has been a key player in our growth. In addition to being one of the first investors in Kreios, it opened the door for us to Galicia’s public and innovation ecosystem. Thanks to that support—which began with the BFAero accelerator, essential for us—we relocated to Vigo and today have our entire technology development center here. This round not only validates our technology, it also proves that Galicia has the talent, capabilities, and institutional backing needed to become a global benchmark in the aerospace sector.”
The company also highlights IGAPE’s support, which co-financed the vacuum chamber installed at its facilities. This infrastructure allows daily testing and iteration of satellites, accelerating technology development and reducing timelines from years to weeks. It is also available to other companies needing to validate projects under vacuum conditions, making it a valuable resource for the regional ecosystem.
Similarly, Galician universities are strategic partners for Kreios, especially the University of Vigo, with which it maintains internship programs, joint development contracts such as the Ícaro Project of the Spanish Space Agency for wildfire detection and prevention via satellite, as well as continuous collaboration for talent training and recruitment.
“Galicia has long been committed to the space sector, with leading companies such as Alén Space and UARX. This milestone is further proof that Galicia’s aerospace hub is positioning itself as a key player internationally,” Senar adds.
The new round, combined with the €2.3 million raised in 2024, will finance the company’s first two test satellites, including the world’s first in-orbit demonstration of an ABEP engine. From there, Kreios will expand toward commercial deployment and the development of constellations dedicated to Earth observation and direct-to-device communications.