SWISSto12 secures $70 million in Series C funding to scale manufacturing and integration capabilities.
- HummingLink and HummingSat product lines are central to meeting demand from commercial and government customers.
- The company has achieved $140 million in revenue for 2023, with projections of $500 million in contracts and positive EBITDA by 2026.
- Expansion into LEO and APAC markets highlights SWISSto12's commitment to global growth and multi-orbit solutions.
- The funding underscores the company's strong financial position and its role in the evolving space infrastructure landscape.
Problem: Meeting Surging Demand in the Evolving Space Market
The space industry is undergoing rapid transformation, with increasing demand for advanced satellite and payload solutions that can operate seamlessly across multiple orbits. This demand is driven by the growing recognition of space as critical infrastructure for global connectivity, media broadcasting, and sovereign communications. However, scaling manufacturing and integration capabilities to meet this demand presents significant challenges for aerospace suppliers.
Solution: Strategic Funding and Expanded Manufacturing Capacity
SWISSto12, a leading provider of radio frequency products and sub-systems for the space industry, has successfully closed a $70 million Series C funding round. This investment follows the company's recent award of $84.8 million from the European Space Agency (ESA) Member States for the HummingSat ARTES partnership project, a Geostationary (GEO) small satellite program aimed at development and in-orbit validation.
"Space is increasingly recognized as essential infrastructure for the global economy. In this expanding market, our solutions across payload and satellite lines are creating significant new opportunities for customers." — Emile de Rijk, CEO and founder of SWISSto12
With this new funding, SWISSto12 is poised to scale its manufacturing and integration capacity to address the accelerating demand from both commercial and sovereign government customers. The investment will support the expansion of two key product lines:
- HummingLink: Advanced, multi-orbit payload solutions that have already seen over 2,000 deployments across active space missions in low Earth orbit (LEO) and other orbits.
- HummingSat: The GEO small satellite program, which has secured seven contracts with leading global satellite operators, including SES and Viasat.
Results: Robust Financial Growth and Global Expansion
The Series C funding round underscores SWISSto12's strong financial position and its readiness for global expansion. Key financial highlights include:
- Revenue Growth: The company achieved revenues of $140 million in 2023 and is projected to reach $140 million in 2025.
- Contract Value: Total contract values have exceeded $500 million, reflecting the company's strong market position and growth potential.
- EBITDA: SWISSto12 anticipates positive EBITDA by 2026, indicating a sustainable and profitable business model.
- Growth Rate: The company has experienced an impressive 110% compound annual growth rate since 2022.
"The financial picture at SWISSto12 is robust and primed for global growth... These are the signals of an agile business, deploying capital efficiently, and operating at scale in a fast-growing industry." — Fredrik Gustavsson, Chief Financial and Strategy Officer of SWISSto12
The funding will also enable SWISSto12 to expand its HummingLink multi-orbit payload and antenna solutions business into diverse missions across Europe and the Asia-Pacific region (APAC). This strategic move aligns with the company's commitment to supporting a wide range of customer missions, from direct-to-device connectivity to intersatellite data relays and sovereign communications infrastructure.
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