Aerospacelab is a Belgian company that designs, manufactures, tests and operates satellites and sensors in-house. It builds from factories in Belgium and the US, and serves customers in Earth observation, telecom and defense. XAnge backed the company at Seed in 2018 and has stayed with it through every stage since.

FROM SIX ENGINEERS TO MORE THAN 440 PEOPLE

When XAnge invested in 2018, Aerospacelab had six engineers. By March 2026 the company had created 436 jobs since the investment and employed more than 440 full-time staff. It now operates offices in Toulouse, Lausanne and Brussels, alongside its production sites. Ten of its satellites were in orbit as of March 2026, and revenue reached the €50 million to €100 million range in 2025.

THE IRIS² CONTRACT

On 10 September 2026, Aerospacelab was announced as the builder of 264 satellite platforms for the low-Earth-orbit segment of IRIS², the EU's secure connectivity constellation. The contract is worth €2.4 billion. Belgian press described it as the biggest contract ever awarded to a Belgian company in the space sector. First launches are planned from 2029.

BUILDING EUROPE'S LARGEST SATELLITE FACTORY

The Charleroi Megafactory is designed to produce up to 500 satellites a year. Construction began in 2024. The company has planned first production for 2026 and full capacity by 2027. In 2024 Aerospacelab also opened a US facility in Torrance, California, to serve American customers, including work with NASA, the Department of Defense and commercial partners. The company also supplies subsystems for MDA Space's Aurora satellite product line.

THE INVESTMENT

XAnge made its first investment in 2018 at Seed with €3.5 million and has invested €21 million across rounds. In February 2022, XAnge and Airbus Ventures co-led a €40 million round that brought the total raised to €60 million since founding. Airbus Ventures and Wallonie Entreprendre are among the notable co-investors in later rounds. XAnge described itself at the time as one of the company's earliest investors.

THE AUGUST 2025 ROUND

On 26 August 2025 Aerospacelab announced €94 million, made up of a €56 million dual-tranche round and a €38 million commitment from a European financial institution. The money goes to completing the Megafactory, accelerating R&D, hiring engineering talent and bringing all key subsystems in-house. Deper said the products were "mature and ready to deploy" at a pivotal moment for the company.

WHAT'S NEXT

The priorities for the latest funding are:

-Ramping up the Megafactory to full capacity by 2027.

-Vertical integration of key subsystems.

-Delivering the satellite backlog for Earth observation, telecom and defense customers.

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