May 27, 06:39 PM

Bulgarian EnduroSat Raises $49 Million Led by Founders Fund with $23 Million to Scale Gen3 Satellites Featuring Comet Platform

EnduroSat, a Bulgarian satellite manufacturer, has secured approximately $49 million in a Series B funding round led by Founders Fund. The investment aims to scale production of a new, larger class of Gen3 satellites. Founders Fund contributed around $23 million to the round, supporting EnduroSat's expansion including its satellite production and base facilities. CEO Raycho Raychev and Founders Fund partner Delian Asparouhov, who referred to EnduroSat as the "TSMC of Bulgaria," highlighted the company's innovative approach to satellite manufacturing. EnduroSat's latest satellite bus platform, Comet, features a flat-pack design optimized for volume efficiency and delivers over 5kW of output to payloads without complex thermal controls, all at an ultra-low platform price in the mid single-digit millions. The company has demonstrated strong financial performance, with EBITDA margins reportedly exceeding those of many AI software firms.