British satellite manufacturer and operator Open Cosmos has announced the acquisition of Connected, a Portuguese startup pioneering affordable, standardized IoT connectivity from space, with applications across maritime, energy, logistics, and more. The value of the deal was not disclosed.
Founded in 2015, Open Cosmos is one of Europe’s fastest-growing space infrastructure companies, designing, building, launching, and operating small satellites while delivering data and services through an innovative platform. It has production facilities in the United Kingdom, Spain, and Greece, with new operations launching in Portugal.
The transaction supports Europe’s technological autonomy and represents one of the fastest startup exits in European space technology, highlighting Portugal’s growing role in space innovation and manufacturing. Connected was founded in 2023.
Rafel Jordà, founder and CEO of Open Cosmos, noted that Connected has achieved in two years what typically takes five, making it one of Europe’s most capable space startups.
“Their hosted payload model fits seamlessly into our OpenConstellation vision, accelerating our ability to deliver scalable, multi-purpose and mission-flexible space infrastructure that serves both institutional and commercial needs across Europe and beyond.”
Connected’s IoT technology and growth
Founded by André Guerra, Hélder Oliveira, Raquel Magalhães, and Tiago Rebelo, Connected developed a proprietary hosted payload platform for narrowband IoT connectivity. The company launched pilot projects across Europe and formed strategic partnerships with EchoStar Mobile, Fraunhofer, and other international collaborators.
Using standardized protocols like 5G NB-IoT and mioty, Connected’s technology reduces the cost and complexity of space-based communications, supporting applications such as infrastructure monitoring, emergency response, ocean surveillance, smart agriculture, and off-grid renewable energy. In two years, Connected transitioned from a research concept to a commercially operational platform.
“We were in the middle of raising our seed round when the opportunity emerged. The offer from Open Cosmos was simply too aligned – in mission, culture, and ambition – to ignore,” said Rebelo, former CEO at Connected, now chief revenue officer at Open Cosmos and managing director at Open Cosmos subsidiaries in Portugal.
As part of the deal, Connected becomes Open Cosmos’ dedicated IoT connectivity unit, with its 22 team members joining the 18-person Open Cosmos Atlantic team. Open Cosmos now has nearly 200 staff, has been profitable for four years with strong growth, raised over €50 million, and maintains a 100% mission success rate across its satellite missions.
Supported by the European Space Agency and the Portuguese Space Agency, Connected – initially accelerated by ESA BIC at Instituto Pedro Nunes and later hosted at UPTEC – also joined the Unicorn Factory Lisboa’s Scaling Up Program and SpaceFounders.
Months after founding, the company secured €2 million in Portugal’s largest pre-seed round for a space startup, co-led by Shilling VC, FundBox, and Iberis Capital, with participation from Amena Ventures, Octopus Ventures, and angel investor Keith Willey.
The acquisition extends Open Cosmos’ operations in Portugal, where it has invested over €15 million to date, with total investment expected to surpass €50 million within three years. This includes opening a satellite factory at Instituto Pedro Nunes in Coimbra to assemble and operate three Portuguese-engineered satellites from late 2025.
These missions will use Connected’s payloads to provide Earth observation data and IoT connectivity, aligning with the EU’s strategy for sovereign and scalable space capabilities.
Featured image: (From left) Connected co-foundersAndré Guerra, Raquel Magalhães, Tiago Rebelo, and Hélder Oliveira (Photo courtesy of Connected, via ECO)
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