ATMOS Space Cargo Raises €25.7M to Build Europe’s First Routine Orbital Return Service
April 22, 2026 - 8:13 am
A year after flying and recovering the continent’s first private re-entry capsule, the German-French startup is moving from demonstration to operations. Three PHOENIX 2 vehicles, a new defence entity, and a next-generation 1-tonne capsule are all funded by the round.
About ATMOS Space Cargo
The European company developing orbital transport and re-entry vehicles, ATMOS Space Cargo has closed a €25.7 million Series A round. The raise is co-led by Balnord and Expansion Ventures, with Keen Defence and Security joining as a strategic co-investor. The European Innovation Council participates through its Accelerator programme via blended financing.
Returning investors include OTB Ventures, High-Tech Gründerfonds, APEX Ventures, Seraphim, Faber, E2MC, Kirch Ventures, Lennertz & Co., Mätch VC, MBG Baden-Württemberg, and Tech Horizons.
The Company’s Background
Based across Lichtenau, Germany and Strasbourg, France, ATMOS Space Cargo was founded by CEO Sebastian Klaus. Its journey began approximately one year ago when it flew and recovered its first prototype re-entry capsule, PHOENIX 1, as part of SpaceX’s Bandwagon-3 rideshare mission in April 2025.
That mission validated the Inflatable Atmospheric Decelerator (IAD) technology at the heart of the PHOENIX system—an inflatable structure that functions simultaneously as a heat shield and aerodynamic brake, enabling controlled atmospheric re-entry without ablative materials and with greater payload-to-mass efficiency than traditional capsule designs.
The Series A Funding Round
The Series A will fund an initial fleet of three PHOENIX 2 vehicles, operated as a phased mission campaign. Recovery operations are already being prepared near Santa Maria in the Azores under a commercial re-entry licence issued by Portugal’s national communications authority.
Alongside the operational campaign, ATMOS WORKS, a dedicated entity focused on governmental and defence customers, is being launched. The dual-use architecture of the PHOENIX platform makes it directly relevant to European defence and intelligence requirements.
Key Features of PHOENIX 2:
- Free-flying spacecraft with integrated propulsion, power, and thermal management.
- Payload capacity of 100 kilograms.
- Mission durations from hours to several months in Low Earth Orbit.