TAMPA, Fla. - Swissto12 has announced a $70 million Series C funding round to keep up with demand for its small geostationary satellites, proving that even in space, bigger isn't always better - unless you're a school bus-sized satellite facing obsolescence.

The Swiss firm, which has over $500 million in contracts for satellite subsystems, antennas, and multi-orbit payloads, is betting big on HummingSat - a washing machine-sized satellite for geostationary orbit (GEO). CEO Emile de Rijk confirmed the first of seven HummingSats ordered to date is slated for completion in 2027 for SES, a legacy operator that traditionally ordered GEO spacecraft closer in size to a school bus.

Low Earth orbit (LEO) broadband constellations have eroded demand for conventional GEO satellites, while giving rise to small GEO specialists offering cheaper, scaled-down spacecraft tailored to regional markets. "Small GEO is increasingly viewed as a solution for multi-orbit, disaggregated constellations," de Rijk said via email, adding that there's "huge interest" from both commercial missions and governments seeking a sovereign strategic backbone for satellite communications.

Europe has been helping Swissto12 develop and validate HummingSat, including an $84.8 million award in January from European Space Agency member states through its ARTES telecoms program. Meanwhile, U.S.-based rival Astranis raised $450 million in May to expand production but operates its satellites and sells capacity via long-term leases, whereas Swissto12 customers own and operate their HummingSats.

Swissto12 spun out of the Swiss Federal Institute of Technology in Lausanne in 2011, initially focusing on lightweight antennas, filters, and other radio frequency components before expanding into complete payloads and satellites. According to the company, over 2,000 of its products are currently deployed on active missions, including equipment for LEO constellations.

"With our diversified position as both a payload and payload product provider as well as a satellite integrator, we see a lot of potential in the market for us across all orbits," de Rijk added.

Swissto12 generated $140 million in revenue in 2025, with contracted backlog set to drive positive EBITDA in 2026. The company also reported a 110% compound annual growth rate since 2022, when it sold its first HummingSat. Series C investors were not disclosed, though its $18.44 million Series B round in 2019 was led by Swisscom Ventures and Swisscanto Invest.