RENENS, Switzerland--(BUSINESS WIRE)--Jul 16, 2026--
SWISSto12, a leading enabler of the new space economy, today announced the close of its $70 million (€61 million) Series C. This news follows the award of $84.8 million (€73 million) from European Space Agency (ESA) Member States to the HummingSat ARTES partnership project, through which ESA supports SWISSto12 in the development and in-orbit validation of HummingSat.
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The Series C fundraise follows a period of sustained commercial growth for the company, with revenues of $140 million (€121 million) for 2025 and total contract values now exceeding $500 million (€432 million), driving positive EBITDA in 2026.
To date, SWISSto12 has secured seven contracts for its HummingSat geostationary (GEO) small satellite with leading global satellite operators, including SES and Viasat. The company has also expanded its HummingLink multi-orbit payload and antenna solutions business into low Earth orbit (LEO) constellation customer programs and diverse missions across Europe and APAC. Over 2,000 HummingLink solutions are now deployed in orbit across active space missions.
With this new round, the company is scaling its manufacturing and integration capacity to meet accelerating demand from commercial and sovereign government customers. This demand spans HummingLink—advanced, multi-orbit payload solutions—and HummingSat, SWISSto12’s GEO satellite product line.
Fredrik Gustavsson, Chief Financial and Strategy Officer of SWISSto12, said, “The financial picture at SWISSto12 is robust and primed for global growth. $140 million in revenue for 2025, more than $500 million in customer contracts, and a 110% compound annual growth rate since 2022. These are the signals of an agile business, deploying capital efficiently, and operating at scale in a fast-growing industry. This Series C accelerates us further to meet strong demand from a space, satellite and telecommunications market that’s evolving and growing at pace.”
Emile de Rijk, CEO and founder of SWISSto12, said, “Space is increasingly recognized as essential infrastructure for the global economy. In this expanding market, our solutions across payload and satellite lines are creating significant new opportunities for customers. Our products are supporting exciting new customer missions—from direct-to-device connectivity to media broadcasting, intersatellite data relays or sovereign communications infrastructure—many of which span multiple orbits. This Series C funding round accelerates our ability to execute on this growing demand across any payload, any platform and any orbit.”
About SWISSto12 SA
SWISSto12 is a leading enabler of the new space economy, leveraging patented manufacturing and design technologies, such as 3D printing, to manufacture disruptive payloads. These can be hosted on any platform, for any mission, in any orbit—either on a third-party satellite or on its proprietary compact, geostationary platform HummingSat. SWISSto12, founded in 2011, is currently delivering payloads for several LEO constellations and seven HummingSat GEO platforms to global operators. The company reached $140 million in revenue in 2025, has over $500 million in contracted orders and has delivered 110% CAGR since 2022. For more information, please visit: https://www.swissto12.com
SWISSto12 will scale its manufacturing and integration capacity to meet accelerating demand from commercial and sovereign government customers.
DUBAI, United Arab Emirates (AP) — The United States intensified its strikes targeting Iran early Thursday, hitting targets further north as American forces also fired into a ship it accused of trying to break its naval blockade on the Islamic Republic. Iran retaliated with missile and drone fire targeting Bahrain, Jordan and Kuwait before dawn and warned its attacks may escalate.
Days of back-and-forth strikes by the U.S. and Iran across the Middle East — and renewed threats to the Strait of Hormuz — have shredded the interim deal to end the Iran war and could tip the region back into all-out war. Already, Iranian officials say U.S. strikes have killed more than 35 people and wounded over 300 others.
Strikes also reached into areas around Iran’s capital, Tehran, for the first time in this latest round of violence, showing a widening set of targets for the Americans.
When the U.S. and Israel launched the war on Iran on Feb. 28, Tehran effectively closed the strait to shipping traffic, a move that sent the price of oil, fertilizer and many other goods soaring far beyond the region and gave Iran major leverage in negotiations.
Col. Ebrahim Zolfaghari, a spokesperson for the Iranian military’s Khatam al-Anbiya Central Headquarters, escalated Iran's threats by referencing U.S. President Donald Trump's repeated warning America could hit Iranian bridges and power plants.
“All the infrastructure in the region will be crushed under the steel blows of the powerful armed forces of the Islamic Republic of Iran” should Trump’s threat be carried out, Zolfaghari said.
“Under no circumstances and in no way will we allow America, as a foreign and extra-regional country, to interfere in the Strait of Hormuz,” he added. “This is Iran’s invincible red line.”
Those rising prices pose a particular challenge to Trump and his Republican Party, which hopes to retain control of Congress in elections in November. But Washington has struggled to successfully reopen the waterway, leading to Trump reimposing the naval blockade Wednesday. Mediators have sought to calm the tensions, but so far have been unsuccessful.
Trump again insisted Iran was ready to strike a peace deal, but he did not elaborate.
“They don’t like what we’re doing, and they do want to settle. We’ll find out whether or not we settle with them, or we just finish it off,” he said Wednesday at the U.S. Army War College in Pennsylvania.
Trump separately said on social media that Tehran made a goodwill gesture by releasing an American citizen wrongly detained in Iran since 2024. He didn’t release further details. Human rights lawyer Jared Genser released a statement identifying the detainee as his client Dena Karari, a U.S.-Iranian citizen who runs a nonprofit and was charged with espionage.
Iran did not immediately acknowledge the release and her case was not publicly known, as is sometimes the case with detentions in the Islamic Republic.
The U.S. strikes early Thursday hit around Tehran, state media reported. It also reported that American attacks targeted Semnan province, home to Iran’s ballistic missile production and space program.
Iranian media also reported strikes Thursday morning around the provinces of Hamedan, Hormozgan, Khuzestan, Lorestan, Markazi, and Sistan and Baluchistan.
On Wednesday, the U.S. resumed striking Iran during daylight, further showing the increasing tempo of the attacks. An attack on Greater Tunb Island, a strategic point in the Strait of Hormuz, targeted Iranian defense and missile sites, Central Command said.
Meanwhile, the U.S. military said it opened fire on the Curacao-flagged oil tanker Belma sailing toward Kharg Island, Iran’s main oil export terminal in the Persian Gulf. After the ship “ignored multiple warnings,” a U.S. aircraft disabled the merchant vessel by firing a missile into the ship’s smokestack.
Another American strike Wednesday targeted a barracks for Iran’s 388th Mechanized Infantry Brigade, which operates tanks and armored vehicles, in Sistan and Baluchestan province, Iranian state television reported. The report said Americans fired at least 13 missiles in the attack and the seven dead included conscripts and career soldiers. A number of troops were wounded.
Iran retaliated Thursday with missile and drone attacks on Bahrain, Jordan and Kuwait, authorities in those countries home to U.S. forces said. There was no immediate acknowledgment of damage or casualties from the attacks.
Meanwhile, Iraqi Prime Minister Ali al-Zaidi condemned an overnight drone attack on the city of Irbil in Iraq’s semiautonomous northern Kurdish region. The drone, which authorities said had been intercepted, came during his trip to the U.S. in which he said Iraq would work to disarm non-state armed groups, including those backed by Iran.
The latest round of fighting is focused on the Strait of Hormuz. How to reopen the strait has bedeviled the U.S. since Iran choked it off in the early days of the war.
During the interim deal, some ships began moving through the passage using a route near Oman overseen by the U.S. military that is outside Tehran’s control.
In recent days, Iran attacked ships using that route and back-and-forth attacks ensued. The U.S. has threatened to reopen the strait by force, but experts say that would require a much bigger armada if not tens of thousands of ground troops. Imposing the blockade is another way to put pressure on Iran.
But in the meantime, oil prices are rising. The price for Brent crude oil, the international standard, traded above $85 a barrel on Thursday, more than 15% higher than the price before the war, but still well below the nearly $120 reached at the height of the conflict.
A billboard depicting U.S. President Donald Trump lying on what appears to be a coffin and bearing anti-Trump messages, including the phrase "We Kill Trump," is seen at Islamic Revolution Square in downtown Tehran, Iran, Wednesday, July 15, 2026. (AP Photo/Vahid Salemi)
Three boys play in the shallow waters of the Strait of Hormuz, as a plume of smoke rises from an explosion in the background, off Bandar Abbas, Iran, Monday, July 13, 2026. (Razieh Poudat/ISNA via AP)
