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ARTICLE · 10 DECEMBER 2025

Space Business Review November 2025

Milbank
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Milbank

Milbank has been in London for over 40 years, assisting clients with their most complex,...

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A monthly round-up of space industry developments for the information of our clients and friends.

United StatesTransport
Dara Panahy
Dara Panahy
Bijan Ganji
Bijan Ganji
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November Fundraising & Financing Activity

November 4 – German satellite manufacturer Reflex Aerospace GmbH raised €50m in a Series A funding round led by Human Element Ventures, LLC, with participation from Alpine Space Ventures Management GmbH, Bayern Kapital GmbH and others.

November 12 – French smallsat manufacturing start-up U-Space SAS raised €24m in a Series A funding round led by Blast SAS, the Definvest fund of the French Armed Forces, which is managed by Bpifrance, and Expansion Ventures SAS, with participation from others.

November 18 – Rocket propulsion start-up Ursa Major Technologies Inc. raised $100m in a Series E funding round led by Eclipse Operations, LLC, with participation from XN LP and others, and also announced $50m in debt financing commitments.

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