NewOrbit Raises $18.5 Million Series A to Advance Very Low Earth Orbit Satellites

UK-based satellite manufacturer NewOrbit has closed an oversubscribed $18.5 million Series A funding round to support the development of spacecraft designed to operate in very low Earth orbit (VLEO), between 200 and 300 kilometers above Earth.

The round was led by Voyager Ventures and included participation from angel investors such as former NVIDIA Chief Scientist David Kirk, TIER Mobility co-founder Lawrence Leuschner, and family office Custos. Existing investors Atlantic vc, Lifeline Ventures, LGF, and Illusian also joined the financing.

NewOrbit is developing its NEO-1 satellite platform to operate in the challenging VLEO environment, where atmospheric drag, atomic oxygen exposure, and aerodynamic forces have traditionally limited spacecraft lifespans.

The company says its proprietary propulsion system is designed to counter these effects and enable satellites to remain operational for up to five years.

According to NewOrbit, operating at lower altitudes could improve Earth observation and communications performance by reducing the distance between satellites and the Earth's surface.

The company is targeting applications including high-resolution imaging, low-latency communications, direct-to-device connectivity, and space-based video transmission.

Founder and CEO Anatolii Papulov said VLEO has long been viewed as too difficult for commercial operations, but believes it offers significant opportunities for future space services. He added that the company's NEO-1 platform was specifically developed to provide reliable and cost-effective access to this orbital regime.

The new funding will also support construction of the NEO Production Complex in the United Kingdom, which is expected to open in 2027. The facility will initially support integration of NewOrbit's first commercial demonstration satellite ahead of a planned launch in 2028, with long-term plans to scale production from a handful of spacecraft annually to multiple satellites per week.

Image credits: NewOrbit