ATMOS Space Cargo Raises €26M Series A for Orbital Return Capsule

ATMOS Space Cargo Raises €25.7M Series A to Advance Orbital Return Capsule Operations

ATMOS Space Cargo has raised €25.7 million in a Series A funding round co-led by Expansion Venture Capital and Balnord, with participation from the European Innovation Council and SMEs Executive Agency (EISMEA) and other investors.

The funding will support the transition from testing to initial operations of the company’s orbital return services, as well as the creation of a dedicated subsidiary for institutional and defense customers.

The company is developing its PHOENIX family of reusable capsules, beginning with PHOENIX 2, which is designed to carry payloads of up to 100 kilograms on missions lasting up to three months. The capsule incorporates an inflatable atmospheric decelerator that functions as both a heat shield and parachute during reentry, enabling controlled return of materials, data, and hardware from orbit.

Proceeds from the funding round will be used to manufacture an initial fleet of three PHOENIX 2 vehicles, building on earlier testing that included the PHOENIX 1 demonstrator launched in 2025.

The goal is to establish routine orbital return capabilities, an area where Europe has conducted multiple demonstrations but has yet to achieve sustained commercial operations.

In parallel with its near-term plans, ATMOS is initiating development of the larger PHOENIX 3 capsule, which is expected to increase payload capacity to 1,000 kilograms and support more advanced mission profiles, including orbital transfer.

The company is also preparing to launch ATMOS WORKS, a new entity focused on serving European government and defense customers.

Image Credits: ATMOS Space Cargo