Ramon.Space closes $70M deal with Eutelsat as space race heats up
Defense-tech boom and European geopolitics align for Israeli startup’s breakthrough.
Ramon.Space, long considered a promising Israeli space-tech company, has now secured the most significant agreement in its history: a contract to supply satellite communication systems to European satellite giant Eutelsat OneWeb, Calcalist has learned.
Industry estimates suggest the deal will generate $70 million in revenue over the next three years. Negotiations for the agreement began roughly a year ago—during the war in Israel—and have now reached fruition.
The deal is expected to help Ramon.Space close a Series B funding round. To date, the company has raised around $50 million, a figure the Series B is expected to match. Investors are increasingly eyeing Ramon.Space as part of the rapidly growing defense-tech sector. Its technologies, which enable advanced digital data processing directly in space, are categorized as dual-use, meaning they serve both civilian and military applications.
Traditionally, satellites have collected data in space and transmitted it to Earth for advanced computing. Ramon’s innovation allows that data to be processed onboard the satellite itself, dramatically improving efficiency and speed. This shift has become increasingly vital in the wake of the commercial space boom, ignited by entrepreneurs like Elon Musk and Richard Branson.
Ramon’s technology could also help bring 5G connectivity directly from space, expanding global coverage and reducing reliance on terrestrial infrastructure.
A Divided Space Race
The rise of SpaceX has intensified a new global space race, prompting geopolitical concerns and a desire among European nations to reduce dependency on American networks. While Elon Musk tends to keep development centralized within his own ventures, Europe is working to expand and control its own satellite infrastructure.
As part of that effort, Eutelsat, a French firm, acquired OneWeb—formerly backed by the British government—two years ago. The Ramon-Eutelsat partnership is a strategic move to strengthen Europe’s position in the satellite communications sector.
Founded two decades ago as part of Israel’s national space program, Ramon.Space currently employs 80 people and is led by CEO Avi Shabtai. The company expects the new contract to significantly scale its operations, reach profitability by 2026, and approach $100 million in annual revenue.
