UK Startup NewOrbit Raises $18.5M for VLEO Satellites

Jan de Vries · 2026-06-08

NewOrbit, a Reading-based SpaceTech company building satellites for very low Earth orbit (VLEO), has closed an oversubscribed $18.5 million Series A round. The funding will support the launch of the world's first commercial satellite designed to fly at altitudes between 124 and 186 miles (200-300 km). This round was led by Voyager Ventures, with notable angel investors including David Kirk (former Chief Scientist at NVIDIA), Lawrence Leuschner (co-founder and former CEO of TIER Mobility), and the family office Custos. Existing backers Atlantic.vc, Lifeline Ventures, LGF, and Illusian also participated. ### Why VLEO Matters For decades, very low Earth orbit has been considered too harsh for commercial satellites. The challenges include: - Aerodynamic drag that can pull spacecraft back to Earth within weeks - Atomic oxygen that corrodes satellite surfaces - Aerodynamic torques that destabilize orientation But NewOrbit claims it has solved these problems with purpose-engineered satellites equipped with an in-house propulsion system. The company says its NEO-1 satellite can operate reliably in VLEO for up to five years. "For sixty years, VLEO has been treated as too hostile an environment for commercial satellites — but it is in fact the most valuable empty real estate in space," said Anatolii Papulov, CEO and co-founder of NewOrbit. "Today, no one in the industry has a reliable, affordable and fast way to fly payloads in very-low Earth orbit. We built our NEO-1 satellite to do exactly that." ### The Commercial Advantage Flying lower offers clear benefits: better visibility and connectivity at significantly reduced costs. From 124-186 miles up, NewOrbit says it can deliver the highest-quality satellite imagery available today at 20 times lower cost than conventional satellites. Data speeds will also be faster. These advantages could unlock new space economy opportunities, like 5G direct-to-device from space and live HD video — things that aren't possible with current orbital geometry. ### The Team Behind the Mission NewOrbit was founded in May 2021 and has assembled a world-class team. Senior engineers come from SpaceX, NASA, Tesla, and Airbus. Its advisory board includes heavyweights like Jean-Jacques Dordain (former Director General of the European Space Agency) and Sir Chris Deverell (former Commander of UK Joint Forces). ### What's Next? With this fresh funding, NewOrbit plans to build its NEO Production Complex, scheduled to open in 2027. The facility will house the company's first commercial satellite, set for launch in 2028. That launch will mark the first time commercial customer payloads fly at altitudes between 124 and 186 miles. Initially, the complex will produce ten satellites annually, eventually scaling to several per week at full operation. NewOrbit claims it will become Europe's largest dedicated VLEO production facility and a strategic asset for the continent's sovereign space ecosystem. "VLEO is the next foundational shift in the global space industry," said Matthew Blain, Partner at Voyager Ventures. "The technology will unlock order of magnitude improvements in earth observation at a fraction of the cost today. We're proud to partner with NewOrbit on their journey to become the leading provider of commercial VLEO satellites globally."