CEECAT Capital Makes Follow-On Investment in Bulgarian Satellite Provider EnduroSat in €43 Million Round alongside Founders Fund
CEECAT Capital, a private equity firm focused on high-impact investments in fast-growing companies across Emerging Europe, announces its follow-on investment in EnduroSat, a leading European provider of high-end satellites and space services. The €43 million financing round also welcomes global investors like Peter Thiel’s Founders Fund and regional fund, Morphosis Capital.
As the first institutional investor to re-invest in this financing round, CEECAT Capital reinforces its conviction in EnduroSat’s mission to make space universally accessible. CEECAT originally backed the company in 2023, during a pivotal stage in its evolution from a high-tech satellite manufacturer into a global “Space as a Service” player.
Raycho Raychev, Founder and CEO, EnduroSat stated “CEECAT Capital has proven to be an incredible partner to us. Their support has been instrumental to our growth. To further scale our capabilities, they have invested in and trusted our vision once more. We are ramping up the scale of satellite production and introducing the new generation of ESPA-class satellites. The new tech will enable unprecedented responsiveness, reduced complexity, and transparent pricing for every space mission.”
Anthony Stalker, Partner, CEECAT Capital, stated: “We are thrilled to support EnduroSat’s continued growth and expansion. Our funding will contribute to expansion of the company into Gen3 ESPA-class satellites which will scale the company into a major global presence in the rapid growth of space services.”
Founded in 2015 by Raycho Raychev and headquartered in Sofia, Bulgaria, EnduroSat is a full-stack space company with in-house capabilities across hardware, software, and mission operations. The company has offices in Sofia, Berlin, Toulouse, Luxembourg, Naples and Denver, and a team of over 220 space professionals worldwide. EnduroSat has successfully launched missions for over 350 organizations spanning Earth observation, communications, and research.
Since its initial investment, CEECAT Capital has actively supported EnduroSat in professionalizing its corporate governance, strengthening its internal organization, expanding its ESG framework, and attracting top-tier international investors. Anthony Stalker, Partner at CEECAT Capital, also serves as a Board Member of EnduroSat, further reinforcing the firm’s long-term commitment and strategic involvement. This hands-on partnership has contributed to EnduroSat’s accelerated growth and ability to scale its satellite services globally.
CEECAT Capital’s early partnership has played a vital role in enabling EnduroSat’s transition from ambition to execution, laying the groundwork for the company to now attract major global names like Founders Fund. CEECAT Fund II continues to support visionary entrepreneurs across Emerging Europe, driving growth, innovation, and impact in globally competitive industries.
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About EnduroSat
EnduroSat is a space infrastructure builder that engineers, builds, and operates exceptional satellites. The company streamlines space missions in LEO (Low Earth Orbit) and beyond, handling every step from mission design to launch and operations. EnduroSat serves 350+ customers globally and employs more than 220 space professionals across 6 locations worldwide.
About CEECAT Capital
CEECAT Capital is a leading private equity investor focused on the high-growth markets of Emerging Europe. The fund invests in SMEs and emerging mid-cap companies with strong growth potential and a clear path toward operational improvement and international expansion. CEECAT’s strategy emphasizes value creation through active ownership, enhanced governance, and long-term developmental impact.
CEECAT Capital team operates across five offices in London, Luxembourg, Bucharest, Belgrade, and Istanbul, combining deep regional expertise with international private equity experience.