ATMOS Space Cargo, a space logistics company, has raised €25.7 million in a Series A round co-led by Balnord and Expansion Ventures, with participation from multiple investors, including the European Innovation Council.
The company is developing return infrastructure for space, enabling industries to send materials into orbit and bring them back efficiently, addressing a growing gap in Europe’s space capabilities.
What The Company Does
Founded in 2021, ATMOS Space Cargo designs and builds reusable spacecraft focused on returning cargo from orbit. Its core platform, PHOENIX, is an orbital transfer and return vehicle developed for missions in low Earth orbit.
The system supports a range of use cases, including microgravity manufacturing, scientific research, and defence-related applications. By enabling controlled return of materials, data, and hardware, the company aims to provide a missing layer in the space value chain, where launch capabilities have advanced faster than return logistics.
PHOENIX is designed to operate across missions of varying durations, from short-term experiments to longer orbital deployments, offering flexibility for different industrial and institutional needs.
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Market Context / Industry Background
Demand for in-space manufacturing and research has been increasing, driven by the unique properties of microgravity environments. However, the ability to return materials from orbit remains limited, particularly within Europe, which continues to rely on external providers for certain space logistics capabilities.
This imbalance has highlighted the need for independent infrastructure that supports both access to orbit and the safe return of payloads. In parallel, geopolitical considerations and defence requirements are also shaping investment in sovereign space capabilities across Europe.
As a result, companies developing end-to-end space logistics solutions are gaining attention, particularly those that can support both commercial and institutional missions.
At the same time, advancements in reusable spacecraft design and thermal protection systems are contributing to more cost-effective return capabilities. The development of scalable re-entry solutions is becoming increasingly relevant as demand grows for frequent and reliable transport between orbit and Earth, particularly for research materials and high-value manufactured components.
Founder / Investor Commentary
Sebastian Klaus, CEO and co-founder of ATMOS Space Cargo, said the new funding allows the company to transition toward regular operational service. He noted that a structured campaign involving multiple vehicles represents a step toward establishing routine orbital return infrastructure in Europe.
Klaus added that PHOENIX 2 will demonstrate the company’s ability to independently access, operate in, and return materials from orbit. He also highlighted that future developments, including ATMOS WORKS and PHOENIX 3, are intended to build a broader architecture spanning commercial, institutional, and defence use cases.
Growth Plans / Use Of Funds
The capital will be used to execute a three-vehicle PHOENIX 2 campaign, marking an important phase in scaling operational capacity. The company also plans to launch ATMOS WORKS, a platform targeting government and defence customers with dedicated mission capabilities.
In parallel, ATMOS Space Cargo will begin development of PHOENIX 3, a next-generation return vehicle expected to offer approximately ten times the payload capacity of its predecessor. These efforts are aimed at expanding the company’s ability to serve a wider range of mission requirements and payload sizes.
The company has already secured mission agreements and is preparing for its first PHOENIX 2 recovery near the Azores, which will serve as a key milestone in validating its technology.
About ATMOS Space Cargo
ATMOS Space Cargo is a space technology company focused on developing infrastructure for returning cargo from orbit. Founded in 2021 and headquartered in Germany, the company builds reusable spacecraft designed to support microgravity research, manufacturing, and secure cargo return. Its mission is to enable more flexible and independent access to space logistics across commercial and institutional sectors.
