Peter Thiel is betting on a satellite manufacturer in Bulgaria. But, why?

What’s happening:

  • Bulgaria based satellite startup EnduroSat has raised $49M USD in a new financing round
  • The funding round was led by Peter Thiel’s Founders Fund

Why it matters:‍

  • EnduroSat is one of the fastest growing private satellite companies in all of Europe and has been rapidly scaling up their production capabilities to keep up with new commercial contracts

Going deeper:‍

  • EnduroSat has publicly stated they will use the new injection of capital to complete construction of a new manufacturing facility located in Bulgaria, which will be one of the largest satellite production facilities in Europe once complete
  • EnduroSat has also landed multiple large scale partnerships in Europe and North America, including with Mission Space, Elon Musk’s SpaceX and multiple academic institutions

The intrigue:‍