Tumbleweed raises €6.9 million after Austria's first commercial satellite
Austrian SpaceTech startup Tumbleweed has raised €6.9 million, reportedly Austria's largest SpaceTech Seed round, four months after launching the country's first commercial satellite.
Austrian SpaceTech company Tumbleweed has raised €6.9 million in a Seed round, which is reportedly the largest of its kind ever raised in Austria. The funding comes four months after the startup placed the country's first commercial satellite in orbit.
The round was led by PactVC. Vanagon Ventures, early backer Prototype Capital and EWOR also took part in the financing.
A team with skin in the game
Tumbleweed has a team of 25 people. Notably, more than one-third of them have also invested in the company, according to the announcement, which points to strong internal confidence in its direction.
Why it matters
The raise gives Tumbleweed fresh capital to accelerate its space missions after its first launch. For Austria, which has a small commercial space sector, a record Seed round for a SpaceTech startup signals growing investor interest in the field. It also shows that a young European company can move from first orbital launch to a sizeable funding round within months.
Further details on the company's upcoming missions were not part of the announcement material available.
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