Germany-based Reflex Aerospace has raised about €7 million as part of its European Union-backed project to launch broadband satellites into orbit.

Reflex Aerospace is heading up its UN:IO low Earth orbit constellation scheme and with Luxembourg-based SES also involved. It received €1.4 million from the European Commission to prepare a feasibility study.

The cash raised covers an initial seed round with investors coming from Alpine Space Ventures, Mynaric and High-Tech Grunderfonds (and an undisclosed Bavarian family office). Reflex Aerospace is reportedly targeting €12 million in this first tranche.

Reflex Aerospace says that it has received other firm commitments and expressions of interest in the project.

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Categories: Articles, Business, Funding, Satellite

Tags: aerospace, germany, reflex