Lithuania's Blackswan Space has closed a Seed funding round worth €2.5 million (US$2.9 million), led by Iron Wolf Capital. The round brings the company's total funding to €3.2 million (US$3.7 million), including its earlier Pre-Seed investment. The new capital will support the commercialization of its RPO Kit, a plug-and-play rendezvous and proximity operations payload, and strengthen its presence in the United States.
Investor Base and Regional Support
The round also included Lemonade Stand and former NanoAvionics co-founder Linas Sargautis, both previous investors, alongside NGL Ventures and Tomas Žalandauskas. Chief Executive Officer Marius Klimavičius noted that all current investors are local, coming from Lithuania and Estonia. He said this is a meaningful achievement given the limited funding available for space startups in the region.
Autonomous Navigation Technology
Founded in 2019, Blackswan Space has grown from two technical experts to a team of 25 people across Vilnius, London, and Denver. The company develops the Mission Design Simulator (MDS) for autonomous mission modeling and the RPO Kit for complex navigation maneuvers. The RPO Kit uses Blackswan Space's proprietary Vision-Based Navigation (VBN) system, which has been developed over the past five years.
Commercial Traction and Market Relevance
The earlier Pre-Seed round enabled Blackswan Space to commercialize its Mission Design Simulator and secure commercial customers in the European Union and the United States, including Auria Space. As the number of satellites in orbit increases, operators need autonomous asset inspection, servicing, collision avoidance, and operations management without developing complex technologies internally. The company positions its software and payload stack as a direct response to these emerging market requirements.
Orbital Test and ASTRAL Mission
Blackswan Space plans to test the RPO Kit in orbit during the fourth quarter of 2027. That milestone will be followed by the first European in-space refueling mission, ASTRAL, planned for 2028 and led by in-orbit logistics company Orbit Fab. The RPO Kit will enable docking between two spacecraft and the subsequent refueling operation, with ASTRAL backed by up to €3.3 million (US$3.8 million) from the UK Space Agency and the European Space Agency.
Investor Perspectives and Market Outlook
Iron Wolf Capital founding partner Viktoras Jucikas said that satellites currently depend on ground control and cannot detect nearby objects, avoid collisions, or support repairs independently. He added that Blackswan Space is giving spacecraft their own eyes and intelligence to maneuver relative to other objects, a capability Europe should not rely on third countries to provide. Jake Geer of Orbit Fab UK said the team's capability and strong relationship with ESA made Blackswan Space the right partner for ASTRAL.
Growth Potential in In-Orbit Servicing
Linas Sargautis, an investor and former chief commercial officer of NanoAvionics, said the RPO Kit enables space logistics for civil and defense applications, autonomous satellite operations, and orbital transfer vehicles. He noted that the in-orbit servicing market is growing rapidly and is projected to exceed €10 billion in value by 2035. Blackswan Space expects current revenues, institutional projects, and the Seed round to help scale MDS sales and accelerate the RPO Kit's in-orbit demonstration.
Blackswan Space is now focused on proving that its current technology performs in space, a step the company sees as essential for pursuing new market opportunities. Its expansion in the United States and its participation in ASTRAL position the company within Europe's push for autonomous orbital capabilities. With a growing team, commercial customers on both sides of the Atlantic, and milestone missions ahead, the company is poised to address increasing demand for safer and more capable satellite operations.