Swissto12, a Swiss satellite manufacturer, raised $70 million in Series C funding to expand production of HummingSat, its small geostationary satellite designed for regional markets. The funding announcement comes as the company reported over $500 million in contracts spanning satellite subsystems, antennas, and payloads. Seven HummingSats have been ordered to date, with the first unit slated for completion in 2027 for SES, a major legacy GEO operator. The funding addresses growing demand for small GEO spacecraft as traditional large satellites face reduced demand from competition by LEO broadband constellations.
HummingSat is a washing machine-sized satellite that serves as a cost-effective alternative to conventional school-bus-sized GEO spacecraft. Swissto12 customers own and operate the satellites they order, distinguishing the company from competitor Astranis, which operates its own small GEO satellites and sells capacity via long-term leases. The European Space Agency has backed HummingSat development with an $84.8 million award announced in January through its ARTES telecoms program, signaling institutional support for the small GEO approach in Europe.
Swissto12 generated $140 million in revenue in 2025 and achieved a 110% compound annual growth rate since 2022, when it sold its first HummingSat. The company expects its contracted backlog to drive positive EBITDA in 2026. CEO Emile de Rijk highlighted strong interest from both commercial customers and governments seeking sovereign strategic satellite communications capacity, particularly for disaggregated multi-orbit constellations.
The company originally spun out of the Swiss Federal Institute of Technology Lausanne in 2011 as a radio frequency component supplier before expanding into complete payloads and satellite integration. Over 2,000 of its products are currently deployed on active missions across all orbital regimes, giving Swissto12 a diversified business spanning LEO constellations, payload components, and GEO satellite manufacturing.