Open Cosmos has raised €300 million in funding to expand satellite manufacturing and its space-based intelligence and connectivity services. The round was led by Lightrock, with participation from ETF Partners, Institut Català de Finances, Entrepreneurs First, two international pension funds, Convex Group, the National Security Strategic Investment Fund, Phoenix Court and Claret Capital Partners.
The announcement names Claret as a participant but does not disclose its commitment or specify how the documented debt financing relates to the €300 million total.
Daniel Mallon, Principal at Claret Capital Partners, said Claret first backed the company in 2022 and was supporting further scale. Companies House filings show a Claret charge dating from June 2022. Group accounts for the year to 31 December 2025, filed in May 2026, describe a £50 million venture debt facility, with £22 million of venture debt and £27 million from separate convertible loan notes received in the period. A post-balance-sheet note records a £25 million second drawdown on 23 March 2026 under the Claret facility entered on 31 December 2025.
An April 2026 Companies House charge registers a Spanish share pledge over Connected Cosmos Europe S.L.U. for Claret European Specialty Lending Company III, Claret Gromit Specialty Lending Company I and Claret Kermode Specialty Lending Company II.
The instrument refers to a £54 million amendment and restatement, agreed on 31 December 2025, of a loan agreement originally dated 8 June 2022. The £50 million facility described in the accounts and the £54 million agreement referenced in the pledge appear to relate to the same Claret refinancing. The September funding announcement does not state whether that facility sits inside or outside the €300 million.
Open Cosmos designs, builds and operates satellites and related connectivity and intelligence services for governments and enterprises, with factories across Europe and a UK base.
Rafel Jorda Siquier, Founder and Chief Executive of Open Cosmos, said the capital would accelerate satellite manufacturing orders and sovereign communications and intelligence services.
Ashish Puri, Partner at Lightrock, said Lightrock was leading the round as the company enters its next stage of growth.