ReOrbit lands record funding to take on Musk’s Starlink from Europe

Finnish startup ReOrbit has raised a €45 million Series A, a record for Finland, to provide "sovereign" satellite services. The company aims to compete with Elon Musk's Starlink constellation from Europe. ReOrbit's goal is to offer satellite-based internet, communications, and data services that are independent from other global providers. The funding will be used to develop and launch its own satellite constellation, which the company says will provide reliable and secure connectivity for European and global customers. The Series A round was led by European deep tech fund LNT Ventures, with participation from other investors. ReOrbit's co-founder and CEO, Tuomas Tikka, stated that the funding will allow the company to accelerate its growth and establish a strong presence in the European satellite market. The news highlights the growing importance of satellite-based services and the increasing competition in the sector, as companies strive to offer alternatives to dominant players like Starlink.