Spanish startup Kreios Space has secured €8 million in seed funding to support a demonstration mission of its air breathing electric propulsion (ABEP) technology in very low Earth orbit (VLEO) by early 2027. This funding round was spearheaded by the NATO Innovation Fund and JOIN Capital, with participation from Grow Venture Partners, Xesgalicia, and Tasivia Global, bringing the total funding to over €10 million.
Founded in 2021 by six Spanish aerospace engineers, Kreios Space is advancing its ABEP system, which allows satellites to operate in increasingly lower orbits. This technology uses air from the upper atmosphere to generate thrust, overcoming the drag that typically requires significant fuel in other propulsion systems. Kreios aims to maintain long-duration missions in VLEO, distinguishing itself from competitors by reaching altitudes as low as 200 kilometers.
Operating satellites at such low altitudes offers various commercial and defense opportunities due to the proximity to Earth. While Kreios has not disclosed specific use cases, potential applications include faster telecommunications and higher-resolution Earth observation. The company plans to pursue dual-use missions, leveraging the NATO Innovation Fund for government contracts and promoting the economic advantages of VLEO in the commercial sector. Kreios aspires to lead in VLEO, offering performance improvements at costs similar to those in low Earth orbit (LEO).
