Founded in 2021 and headquartered in Vigo, Kreios Space is building an Air-Breathing Electric Propulsion (ABEP) engine that ingests atmospheric air, converts it to plasma, and powers satellites without the need for onboard propellant. The technology is designed to keep spacecraft flying at altitudes of 150–400 km, where they can deliver three-times-higher image resolution and enable direct-to-device broadband connectivity. The company plans to use its new capital to test the ABEP engine in orbit and launch its first two VLEO satellites, followed by commercial Earth-observation and broadband constellations. Kreios’ 17-person team includes talent drawn from Thales, JAXA and the European Space Agency and has received support from Spain’s CDTI and Spanish Space Agency under the National Space Technology Programme. Strategically, the startup positions Europe for greater autonomy in space infrastructure while targeting applications such as wildfire detection, infrastructure monitoring, defence and disaster response. Financially, Kreios has now raised €10.3 million in total, including the latest €8 million seed round and a prior €2.3 million tranche closed earlier in 2024. The fresh funds will accelerate hardware development, orbital demonstration and subsequent commercial deployments.

Total raised

$12M

Funding rounds

4

Latest round

Seed

Latest activity

Sep 2025