Estonian Icebreaker.vc invests in Finnish company ReOrbit
Estonian venture fund Icebreaker.vc participated in a €45M Series A round for Finnish company ReOrbit, which was the largest round for European space technology companies. Other investors included Springvest, Elo, Varma, Expansion, 10x Founders, and Inventure VC.
ReOrbit is a Finnish startup founded in 2019 and based in Helsinki. The company manufactures satellites and related software systems that provide countries with independent communications and reconnaissance capabilities. ReOrbit's systems are used for both military and civilian purposes. ReOrbit's CEO is Sethu Saveda Suvanam.
The company is using the funds raised to expand its production capacity, improve its technologies, and enter the international market, including opening local centers in several regions over the next year.
Icebreaker.vc is a venture capital firm that invests in innovative startups, including those in the fields of software, hardware, and deep tech. The company's mission is to support and empower entrepreneurs who create innovative solutions to pressing global issues. Its portfolio includes companies such as Valpas, Lumoa, Workfellow, and Oterlu. Founded in Helsinki in 2016 by Riku Seppälä, Lasse Lehtinen, Aleksi Partanen.
Springvest Oyj is an investment company that invests in growing companies. The company was founded in 2012 in Helsinki, Finland.
Elo is one of Finland's largest pension insurance companies. The company is responsible for managing the pension security of employees and the self-employed. It was founded in 2014.
Varma is a Finnish mutual pension insurance company. It was founded in 1998 as a result of the merger of Pension-Sampo and a large segment of Pension-Varma.
Expansion Ventures is a French venture capital fund founded in 2022. The fund invests in companies operating in the aerospace and defense technology sectors, as well as in the field of air mobility in Europe.
10x Founders is a venture capital firm founded in 2021 and based in Munich, Germany. The firm invests in startups across a wide range of sectors, from enterprise applications to high tech and fintech.
Inventure is a venture capital firm founded in 2005 and headquartered in Helsinki, Finland. It specializes in investing in early-stage startups in Scandinavia and the Baltic countries.
