Startup
Munich Space and Defense Start-Up Lands Major VC Deal
Thermal intelligence provider constellr has concluded one of the largest every European Series A funding rounds.
Feb 20, 2026
The company from the Bavarian capital raised EUR 37 million in the round, which was led by Alpine Space Ventures and Lakestar.
“The investment will accelerate the expansion of constellr’s pioneering, fully operational thermal intelligence capabilities and advance the system to defense grade status for governments, military entities and security agencies,” the company said in a statement.
constellr touts itself as the “only proven operational provider of high-resolution thermal infrared data” based in the European Union. The start-up said that it would use the capital, among other things, to expand its satellite constellation.
“This funding accelerates our path to full defense-grade performance to close critical gaps in Europe’s sovereign ISR [intelligence, surveillance and reconnaissance] architecture,” said constellr CEO and co-founder Max Gulde.
