NATO Fund Taps Spanish Startup for Satellite Investment (1)

NATO’s NIF fund has made its first investment in a Spanish startup as it bets on a new type of satellite technology to help develop the industry in Europe.

The NATO Innovation Fund and Join Capital will both become investors in Kreios Space, which is seeking to create satellites that can operate in so-called very low orbits, according to a statement from NIF. The funds are among a group of investors injecting €8 million ($9.5 million) in a seed round.

Very low orbits range between 150 and 400 kilometers (93 to 249 miles) of altitude. Kreios’s proprietary technology would allow ...