TAMPA, Fla. — Swissto12 said it has raised $70 million in fresh funding to keep up with growing demand for its small geostationary satellite manufacturing business.
The Series C funding round was announced July 16 as the Swiss firm reported more than $500 million in contracts for a business spanning satellite subsystems, antennas and multi-orbit payloads to HummingSat, its washing machine-sized satellite designed for geostationary orbit (GEO).
Emile de Rijk, Swissto12’s CEO, said the first of seven HummingSats ordered to date is slated for completion in 2027 for SES, a legacy operator with a long history of ordering traditional, GEO spacecraft closer in size to a school bus.
However, the emergence of low Earth orbit (LEO) broadband constellations has eroded demand for conventional GEO satellites, while giving rise to small GEO specialists offering cheaper, scaled-down spacecraft tailored to regional markets.
“Small GEO is increasingly viewed as a solution for multi-orbit, disaggregated constellations,” de Rijk told SpaceNews via email.
“There is huge interest here, both for targeted commercial missions and for governments seeking a sovereign strategic backbone for satellite communications.”
Europe has been helping Swissto12 develop and validate HummingSat, including an $84.8 million award announced in January from European Space Agency member states through its ARTES telecoms program.
In May, U.S.-based small GEO rival Astranis said it had raised $450 million in new capital to expand production for commercial and military customers.
But whereas Astranis operates the satellites it builds, selling their capacity via long-term leases, Swissto12 customers would own and operate the HummingSats they order.
Swissto12 initially focused on lightweight antennas, filters and other radio frequency components after spinning out of the Swiss Federal Institute of Technology in Lausanne in 2011, before expanding into complete payloads and satellites.
According to the company, more than 2,000 of its products are currently deployed on active missions, including equipment for LEO constellations.
“With our diversified position as both a payload and payload product provider as well as a satellite integrator (with HummingSat), we see a lot of potential in the market for us across all orbits,” de Rijk added.
“Our payloads combine performance with a factor of design freedom and fast adaptation to customer missions that is valued by the market.”
Swissto12 generated $140 million in revenue in 2025, according to the company, with contracted backlog set to drive positive earnings before interest, taxes, depreciation and amortization (EBITDA) in 2026.
The company also said it has achieved a 110% compound annual growth rate since 2022, when it sold its first HummingSat.
While Series C investors were not disclosed, Swissto12 previously said its $18.44 million Series B round in 2019 was led by venture capital firms Swisscom Ventures and Swisscanto Invest.
