Customer Profile
Open Cosmos
Open Cosmos Ltd.
Open Cosmos is a UK-based company focused on building secure Low Earth Orbit (LEO) broadband constellations 3. The company specializes in developing satellite design and mission management software through its Open Cosmos OS platform 5. The firm targets both government and commercial entities to provide sovereign and resilient communications infrastructure in LEO 14.
Open Cosmos has achieved EBITDA positive status since the end of 2020 . It has maintained profitability for the last 4 years while doubling revenues year-on-year . The company is currently expanding its capabilities into IoT connectivity through the acquisition of the Portuguese startup Connected 10.
Investment Thesis
Open Cosmos is a UK-based company focused on building secure Low Earth Orbit (LEO) broadband constellations 3. The company specializes in developing satellite design and mission management software through its Open Cosmos OS platform 5. The firm targets both government and commercial entities to provide sovereign and resilient communications infrastructure in LEO 14.
Open Cosmos has achieved EBITDA positive status since the end of 2020 . It has maintained profitability for the last 4 years while doubling revenues year-on-year . The company is currently expanding its capabilities into IoT connectivity through the acquisition of the Portuguese startup Connected 10.
Key Differentiators
- • Software-Centric Approach: Develops the Open Cosmos OS, a proprietary platform for satellite design and mission management 5.
- • Integrated Constellation Strategy: Developed ConnectedCosmos, a sovereign Ka-band LEO broadband constellation that integrates connectivity with Earth observation imagery via optical inter-satellite links 7.
- • Proven Financial Stability: Reported EBITDA positive status since 2020 and has doubled revenues annually since that time .
- • Spectrum Access: Secured high priority Ka-band radio spectrum filings from the Principality of Liechtenstein to support its LEO broadband operations 12.
Risk Factors
- • Capital Requirements: The company is seeking $200M in funding to support the deployment of its Ka-band constellation (projection) 15.
- • Deployment Milestones: The constellation plan requires deploying 144 satellites by June 2026 and another 144 satellites by September 2026 (projection) 15.
- • Funding Dependency: Future growth is tied to the successful acquisition of $200M in capital for upcoming ITU milestones (projection) 15.
Rocket Lab Relationship
Open Cosmos is a verified Rocket Lab customer, having utilized the Electron rocket for its first dedicated mission, 'The Cosmos Will See You Now', on January 22, 2026 16. This mission successfully deployed two satellites, MR-1 and MR-2, into a polar orbit 113. This relationship provides revenue to Rocket Lab's Launch Services segment 6.
The mission also utilized Motorized Lightband (MLB) separation systems from Planetary Systems Corporation (PSC), a Rocket Lab component business 11. Open Cosmos is also identified as a potential customer for the Photon satellite bus for future space system solutions (projection) 16.
Business Model
Open Cosmos generates revenue through the development of secure LEO broadband constellations for government and commercial sectors 3. The company has executed various satellite missions including QB50, Enxaneta, LS2, DOVER, Menut, ALISIO-1, PLATERO, MANTIS, HAMMER, Phi-Sat-2, 6GStarLab, NanoMagSat, UK Atlantic Constellation Pathfinder, and ORPHEUS 5. It also provides Earth observation services, such as a Greek government constellation 5.
Technology
Key technologies include the Open Cosmos OS for mission management 5 and high-frequency/optical technologies developed through a partnership with Panasonic under the UK Space Agency's International Bilateral Fund 8. The company is also focused on secure LEO broadband and Earth observation imagery 7.
Space Activity
The company is building the ConnectedCosmos LEO telecom constellation, which features Ka-band connectivity and optical inter-satellite links 7. It is also testing 6G capabilities and near real-time AI analytics for advanced Earth observation 17. The company is integrating narrowband IoT (5G NB-IoT, mioty) into its OpenConstellation via its acquisition of Connected 10.
Leadership
Rafel Jordà Siquier, Founder and CEO. Studied aerospace engineering at the Polytechnic University of Catalonia in Barcelona; previously worked at Airbus Defence and Space and zero2infinity.
Rafel Jordà Siquier, Aleix Megias Homar, and Aleix Megias Homar (listed as co-founders).
Rafel Jordà Siquier, Founder and CEO. Studied aerospace engineering at the Polytechnic University of Catalonia and holds an MBA; previously worked at Airbus Defence and Space and zero2infinity.
Funding
Open Cosmos is a private, venture capital-backed company 4. It raised $50M in a Series B round on September 11, 2023, with investors including ETF Partners (lead), Trill Impact, A&G, Accenture Ventures, Banco Santander, and Claret Capital Partners 2918. Prior to its Series B, the company had raised $7M 9. The company is currently seeking $200M for its Ka-band constellation deployment 15.
Launch History
Rocket Lab mission record for Open Cosmos
Most recent completed flight: The Cosmos Will See You Now on Jan 22, 2026.
