Swiss satellite and payload maker SWISSto12 has closed a $70 million (€61 million) Series C, funding it says will expand manufacturing as orders climb across commercial and government customers.
The Series C lands after a stretch of steep revenue gains. SWISSto12 reported $140 million (€121 million) in 2025 revenue, and its cumulative contract value has passed $500 million (€432 million), a trajectory the company says is pushing it into positive EBITDA in 2026.
The raise also follows a separate boost from Europe’s public space program: European Space Agency member states awarded $84.8 million (€73 million) to the HummingSat ARTES partnership, under which the ESA backs the development and in-orbit validation of the HummingSat platform.
“The financial picture at SWISSto12 is robust and primed for global growth. $140 million in revenue for 2025, more than $500 million in customer contracts, and a 110% compound annual growth rate since 2022. These are the signals of an agile business, deploying capital efficiently, and operating at scale in a fast-growing industry. This Series C accelerates us further to meet strong demand from a space, satellite and telecommunications market that’s evolving and growing at pace,” said Fredrik Gustavsson, the company’s Chief Financial and Strategy Officer.
Capital chasing the multi-orbit build-out
SWISSto12’s Series C is, at its core, a capacity play. The company isn’t raising to prove a technology but to turn a $500 million-plus order book into delivered hardware, widening its manufacturing lines to supply both the multi-orbit HummingLink payloads and the GEO HummingSat platform. Additive manufacturing gives it a cost-and-speed edge, but the round itself is about scale, meeting satellite-connectivity demand that is growing across LEO, MEO, and GEO at once.
That wave has drawn a string of comparable raises. Australian developer Fleet Space closed a $26.4 million Series B to push its global satellite IoT connectivity ambitions, built around metal-printed patch antennas for its Alpha small satellites.
More recently, US satcom startup AscendArc emerged from stealth with $3.95 million in pre-seed and seed funding to develop small geostationary satellites for high-bandwidth military and commercial links, pairing mass-production economics with 3D printed RF components, a profile that closely echoes SWISSto12’s own GEO SmallSat pitch.
The signal is consistent, meaning money is moving toward printed space hardware because it promises lighter parts, faster builds, and lower launch costs. SWISSto12’s raise fits that pattern squarely on the payload-and-satellite side. Execution, turning funding into delivered units, is now the deciding factor.
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Featured image shows HummingSat. Image via SWISSto12.
