Open Cosmos
Overview
Builds and operates turnkey smallsats for national and commercial customers, then federates those customer-owned satellites into OpenConstellation — a shared network where every contributor gets access to the whole fleet's data.
Moat: OpenConstellation flips constellation economics — Open Cosmos gets fleet-scale revisit funded by its customers' own capital expenditure, a network effect that compounds with each satellite sold and is very hard for a pure manufacturer to copy.
Business
Primary customers
- Government: National government EO programs
Sectors
Satellite Manufacturing · Earth Observation · Satellite Communications
Key Products
- OpenConstellation 1.0operational
Federated shared-data network across customer-owned satellites; near-real-time EO tier declared June 2026.
- ConnectedCosmosdevelopment
Ka-band secure satellite connectivity, positioned as a European sovereign alternative.
- Atlantic constellationdevelopment
Multi-nation European Earth-observation constellation.
Near-term Catalysts
- 2026
OpenConstellation 1.0 scale-out
Near-real-time revisit is the product differentiator versus daily-refresh incumbents.
- 2026
ConnectedCosmos rollout on Liechtenstein-awarded Ka-band spectrum
Opens a second, higher-margin revenue line in sovereign European connectivity.
Top Risks
- A constellation plus a new Ka-band comms business needs far more capital than the 2023 Series B; a large 2026 raise was reported but not confirmed as closed.
- EO manufacturing and satellite telecoms are different businesses with different cost curves; ConnectedCosmos puts it against Eutelsat OneWeb and SES.
- OpenConstellation's value depends on national customers continuing to buy satellites and agreeing to federate them.
Recent Milestones
- 2026-01-22
First major step toward its LEO constellation with a landmark satellite launch
- 2026-03-02
Announces ConnectedCosmos — European secure space-based connectivity
- 2026-06-30
OpenConstellation 1.0 takes Earth observation into near-real time
- 2026-07-13
HM King Charles III opens the UK Space and Defence Gateway at Open Cosmos's Harwell HQ
What investors should know
Q1What is OpenConstellation?⌄
Q2What is ConnectedCosmos?⌄
Q3How is it funded?⌄
Q4What does the UK Space and Defence Gateway signal?⌄
Q5What's the biggest execution risk?⌄
Peers
Compare side-by-side →Sources & References
Investor Relations
- Open Cosmos — news index · 2026-07-25
Press Release
- Open Cosmos — Series B announcement · 2023-09-01