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NewOrbit Raises $18.5 Million to Build Very Low Earth Orbit Satellites

The funding will finance a UK production complex and development of air-breathing ion propulsion to test whether satellites can operate reliably at 200–300 km.

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NewOrbit Space was founded in 2021 to tackle the challenges and unlock the commercial potential of flying satellites at altitudes of 200 to 300 kilometers.
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Overview

  • The company announced an oversubscribed $18.5 million Series A on Monday, June 8, 2026, to prepare its first commercial very low Earth orbit (VLEO) mission and win customers.
  • Voyager Ventures led the round with participation from Atlantic VC, Lifeline Ventures, Illusian, Custos Family Office and individual backers including David Kirk and Lawrence Leuschner.
  • NewOrbit aims to fly satellites at about 200–300 kilometers to deliver sharper imagery and stronger communications because closer range reduces signal loss and improves resolution, a benefit the company says could lower costs substantially but has not yet independently proven.
  • The startup is developing vertically integrated subsystems and an air-breathing electric propulsion system based on gridded ion thrusters to counter atmospheric drag, atomic oxygen erosion, and aerodynamic torque that normally shorten VLEO missions.
  • NewOrbit plans to open the NEO Production Complex in the UK in 2027 with initial output of roughly 10 satellites a year scaling toward several per week and to conduct its first commercial flight and begin service in 2028, a development that could give European customers a local VLEO option and create new space manufacturing jobs.