Open Cosmos Acquires Connected, Advancing European Space Sovereignty
In a development that enhances Europe's technological independence, Open Cosmos has acquired Connected, a Portuguese startup specializing in affordable, standardized IoT connectivity solutions via space. Open Cosmos is one of Europe’s fastest-growing companies in the space sector. The company designs, constructs, and operates comprehensive satellite missions, with facilities located in the UK, Spain, Greece, and newly established operations in Portugal.
This acquisition represents one of the most rapid and notable startup exits in European space tech history and marks a significant milestone in Portugal’s rise as an innovation hub for space-related manufacturing and services. “Connected has achieved in two years what typically requires five,” said Rafel Jordà, founder and CEO of Open Cosmos. “Their hosted payload model aligns perfectly with our OpenConstellation vision, accelerating our delivery of scalable, multi-purpose, and mission-flexible space infrastructure to serve institutional and commercial clients across Europe and beyond.”
Founded in 2023 by André Guerra, Hélder Oliveira, Raquel Magalhães, and Tiago Rebelo, Connected has developed a proprietary hosted payload platform for narrowband IoT connectivity, launched pilot projects throughout Europe, and established strategic collaborations with EchoStar Mobile, Fraunhofer, and other international partners. Its technology, which utilizes standardized protocols such as 5G NB-IoT and mioty, reduces the cost and complexity of space-based communications to enable applications from infrastructure monitoring to emergency response and ocean surveillance to smart agriculture and off-grid renewable energy systems. In a remarkably short period of just two years, Connected evolved from idea into a commercially operational platform.
Tiago Rebelo, former CEO of Connected and now Chief Revenue Officer at Open Cosmos as well as Managing Director of its Portuguese subsidiaries, said: “While raising our Seed round, we received an offer from Open Cosmos that was highly aligned with our mission, culture, and ambitions. This recognition validated not only our technology but also the tangible progress we made with limited resources through dedicated focus.”
Connected has benefitted from robust institutional support, most notably from the European Space Agency (ESA) and the Portuguese Space Agency, which helped to solidify its role as a key provider of interoperable, sovereign space services. Connected began its journey with the accelerator program hosted by the ESA BIC at Instituto Pedro Nunes (IPN) in Coimbra, followed by hosting at UPTEC in Porto. The company was also chosen for both the Unicorn Factory Lisboa Scaling-Up Programme and the SpaceFounders European Accelerator.
Just months after its founding, Connected secured €2 million in what became the largest pre-seed funding round to date by a Portuguese space startup. The round was jointly led by Shilling VC, Iberis Capital, and FundBox, with further investment from Octopus Ventures, Amena Ventures, and angel investor Keith Willey.
Following the acquisition, Connected will serve as Open Cosmos’ dedicated IoT connectivity division, integrating all 22 employees into the expanding Open Cosmos team, which now approaches 200 employees. Open Cosmos has maintained a four-year track record of profitability alongside robust growth, and has raised over €50 million to date. Notably, the company boasts a 100% success rate across all satellite deployments.
Connected will assume leadership of Open Cosmos’ connectivity strategy, delivering scalable and cost-effective solutions across sectors including maritime, energy, and logistics, among others. “This is just the beginning,” remarked Tiago Rebelo. “Together, we are building a future where Europe not only leads technologically, but also industrially, providing advanced space services that address global challenges, connect communities and assets, safeguard critical environments, and promote regional autonomy.”
This acquisition strengthens Open Cosmos’ presence in Portugal, where cumulative investments have already surpassed €15 million and are expected to exceed €50 million within the next three years, supporting ongoing expansion. Planned initiatives include the establishment of a new satellite facility at IPN in Coimbra, where three satellites designed in Portugal will be assembled and deployed starting in late 2025. These missions will leverage Connected’s payload technologies to provide integrated Earth Observation data and IoT connectivity from orbit.
Through the acquisition of Connected, Open Cosmos also reaffirms its commitment to Portugal and enhances its capability to deliver advanced space services throughout Europe. From Earth observation and IoT to secure communications, this development represents a significant advancement towards a more autonomous, resilient, and connected European ecosystem, fully aligned with the EU’s vision for sovereign and scalable space capabilities.
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