NewOrbit (neworbit.space), a Reading, UK-based developer of satellites for very-low Earth orbit, has raised $18.5M in Series A funding led by Voyager Ventures. The company engineers platforms for sustained operations at 200-300 km altitude to deliver higher-resolution Earth observation and faster data transmission. The capital will fund the NEO Production Complex opening in 2027 and first commercial launch in 2028.
VLEO Sector Draws Climate and Space Investors
The timing comes amid surging interest in VLEO. Kreios Space raised $12.7M while Albedo secured $100M. NewOrbit's approach using air-breathing electric propulsion addresses drag and debris challenges in ultra-low orbits.
Hostile Environment Limits Traditional Satellites
No commercial payload has flown below 300km long-term. VLEO offers 3x resolution gains but faces extreme drag, atomic oxygen and torque that have kept the orbit commercially unviable for decades.
Air-Breathing Propulsion Enables Five-Year Missions
NewOrbit's AURA system uses atmospheric particles as propellant for sustained 5-year operations.
"We are building this as a product for anyone to come to us and say, ‘We want to fly at VLEO, bring us there,’" — Anatolii Papulov, CEO.
Climate-Focused VC Leads Oversubscribed Round
Voyager Ventures led the round, joined by Atlantic VC, Lifeline Ventures, Illusian and angel David Kirk. The investor mix validates VLEO as infrastructure for climate data and defense applications.
Market Expands Rapidly Amid Debris Concerns
The VLEO satellite market is projected to grow from $10.4 million to $1.5025 billion by 2034 at 73.8% CAGR. Broader LEO market stands at $32.59B in 2026 with 9.36% CAGR. VLEO investment is projected to surge from $17B in 2024 to $220B by 2027.
Ex-ESA and NASA Experts Join Advisory Board
Advisors include former ESA Director General Jean-Jacques Dordain and JPL propulsion experts, bringing deep domain knowledge in VLEO missions.
What's Next
With funding secured, NewOrbit plans to open the NEO Production Complex in 2027 and launch first satellite in 2028 while scaling production toward several satellites per week.