About Expansion
Expansion is a venture capital firm founded in 2022. It is primarily based out of Paris, France. As of Apr 2026, Expansion is an active investor, having invested in 14 companies, with 5 new investments in the last 12 months. It primarily invests in Series A round in France based startups. Its investments are spread across a wide range of sectors from High Tech to Aerospace, Maritime and Defense Tech and Enterprise Applications. Most recently it participated in the $***** Series A round of Univity A lot of funds co-invest with Expansion, with names like SpaceFounders sharing a substantial percentage of its portfolio. Expansion has team of 8 people including 4 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Series A, Seed & 1 more
Portfolio Soonicorns
Deals in last 12 months
Expansion's List of Top Investments
Expansion has a portfolio of 14 companies. Their most notable investments are in Constellation Global and Exobiosphere.Their portfolio spans across France, Germany, Argentina and 3 more locations. They have invested in High Tech, Aerospace, Maritime and Defense Tech, Enterprise Applications and 4 other sectors, across stages such as Series A, Seed and 1 more. Here is the list of top investments by Expansion:1. ReOrbit
Manufacturer of sovereign satellites and connected systems for national security. They provide secure space infrastructure for multi-domain operations and satellite solutions for civil applications. The company focuses on delivering advanced and cost-efficient technology. They partner with clients from initial concept to final deployment. The company empowers countries to develop national satellite technology for connected systems.
Key facts about ReOrbit
Developer of reusable space vehicles for cargo transport to space stations. The company designs modular and refillable vehicles for low-Earth orbit and beyond. These vehicles are launcher agnostic and intended to serve space stations. They incorporate orbital propulsion, docking mechanisms, and re-entry and recovery capabilities.
Key facts about The Exploration
- Founded Year: 2021
- Location: Planegg (Germany)
- Stage: Series B
- Total Funding till date: $210M
- Employee Count: 453 as on May 31, 2026
- Investors: EQT, Partech Partners and 24 Others
- Latest Funding Round: Series B, Nov 18, 2024, $*****
- Highlight: Editors' Pick
3. Skynopy
Operator of a ground station network service for satellite communications. The company provides access to ground networks through a single application programming interface. It offers pre-integrated advanced modulations and supports testing and integration of satellite to ground. The service facilitates end-to-end data handling from satellite to cloud.
Key facts about Skynopy
- Founded Year: 2023
- Location: Paris (France)
- Stage: Seed
- Total Funding till date: $20.7M
- Employee Count: 23 as on May 31, 2026
- Investors: Heartcore Capital, Bpifrance and 8 Others
- Latest Funding Round: Seed, Jun 30, 2025, $*****
- Highlight: Editors' Pick
Provider of space return services for research and manufacturing purposes. The company focuses on affordable, regular, and reliable return transport, particularly for life science applications. It offers return capabilities for micro-gravity research, including monoclonal antibodies, stem cells, organoids, and protein crystallization. The service aims to address challenges related to cost, lead times, repeatability, and reliability in space cargo logistics.
Key facts about ATMOS Space Cargo
- Founded Year: 2021
- Location: Rheinmunster (Germany)
- Stage: Series A
- Total Funding till date: $48.2M
- Employee Count: 81 as on May 31, 2026
- Investors: HTGF, Amadeus Capital and 16 Others
- Latest Funding Round: Series A, Apr 22, 2026, $*****
- Highlight: Editors' Pick
5. HyPrSpace
Developer of hybrid rocket engine technology for scalable launch options. The company focuses on creating a cost-effective and reliable path to space. It offers multiple launch options, including dedicated, lead, and shared flights. The technology combines liquid and solid propulsion benefits, allowing thrust modulation and high performance. The patented architecture eliminates turbopumps, reducing costs and complexity. The company uses recycled materials and seeks sustainable solutions.
Key facts about HyPrSpace
- Founded Year: 2019
- Location: Le Haillan (France)
- Stage: Series A
- Total Funding till date: $25.4M
- Employee Count: 131 as on May 31, 2026
- Investors: Red River West, Bpifrance and 5 Others
- Latest Funding Round: Series A, Nov 28, 2025, $*****
- Highlight: Editors' Pick
Expansion's Year-on-Year Investment Trends
Expansion has invested in 14 companies over the last 3 years, with an average of 4 new investments annually in the last 3 years. In 2025, it made 6 investments, while as of Apr 2026, it has made 2 investments in this year. Its most recent first time investment was in Univity and most recent follow-on round was in Look Up Space.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 5 | 1 | 6 |
2024 | 4 | 0 | 4 |
2023 | 1 | 0 | 1 |
Expansion's Investments by Stage
Expansion has made 6 investments in Series A stage with an average round size of $27.3M, 5 investments in Seed stage with an average round size of $8.38M and 1 investment in Series B stage with an average round size of $30M.Stage of entry | No. of Investments |
|---|---|
Series A | 6 |
Seed | 5 |
Series B | 1 |
Note: We have considered here, only first round of investments
Expansion's Investments by Sector
Expansion has a diverse portfolio, with companies operating in the Aerospace, Maritime and Defense Tech, High Tech, Enterprise Applications, Telecom and Aerospace, Maritime and Defense. Notably, it has invested in 10 Tech companies, 9 Enterprise (B2B) companies, 7 Tech hardware companies and at least 5 companies focusing on Software.Sector | No. of Investments |
|---|---|
Aerospace, Maritime and Defense Tech | 8 |
High Tech | 8 |
Enterprise Applications | 2 |
Telecom | 2 |
Aerospace, Maritime and Defense | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Expansion's Investments by Geography
Expansion has made most investments in France (7), followed by Argentina where it has made 1 investment.Country | No. of Investments |
|---|---|
France | 7 |
Argentina | 1 |
Finland | 1 |
Germany | 1 |
Luxembourg | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Expansion's recent investments
Expansion has made 2 investments in 2026 so far - Univity and ATMOS Space Cargo.Here are the most recent investments by Expansion:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 23, 2026 | France | Series A | 5355 | [+1] | |
Apr 22, 2026 | Germany | Series A | 5605 | [+1] | |
Nov 28, 2025 | France | Series A | 4994 | [+4] | |
Sep 11, 2025 | United Kingdom | Seed | 8470 | ||
Sep 09, 2025 | Finland | Series A | 6092 | [+5] |
Team profile of Expansion
Expansion has a team of 8 members including 4 Partners and 1 Principal located in France and United States. Expansion's team does not sit on the board of any company as of now.Here is a list of all team members in Expansion:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Paris | - | ||
Partner | Paris | - | ||
Partner | Los Angeles | - | - | |
Partner | - | - | - | |
Principal | France | - |
Co-investors of Expansion
Over the past 3 years, 69 investors have co-invested in Expansion's portfolio companies. This includes funds and angels.
- Invested before Expansion: Seraphim, Bpifrance and 27 others have invested in rounds before Expansion. There are 2 companies where Seraphim has invested before Expansion and 2 companies where Bpifrance has invested before Expansion.
- Top Co-investors of Expansion: 37 investors entered a company along with Expansion. These include investors like SpaceFounders (2 companies).
- Invested after Expansion: A total of 3 investors have invested in Expansion's portfolio after their investments. Top Investors include European Innovation Council (2 companies), ETF Partners (1 company) and leadwind.vc (1 company).
Recent News related to Expansion
•
COMMS France’s Univity raises €27m to compete with StarlinkSilicon Republic•Apr 23, 2026•Expansion, Bpifrance, Blast.Club, Univity and 2 others
•
ATMOS Space Cargo Raises €25.7M Funding In Series A RoundStartup Rise EU•Apr 22, 2026•Balnord, Expansion, Europa, ATMOS Space Cargo and 9 others
•
•
•
•
French startup raises €9.3m to develop satellite internet for telcosCapacity Media•Oct 15, 2024•Constellation Global, Expansion, Expansion Venture Capital, Bpifrance
•
Dcubed secures €4.4 million in funding to 3D print solar arrays directly in spacenanjixiong.com•Aug 17, 2024•DcubeD, Expansion, BayBG Venture Capital, HTGF and 3 others
•
Dcubed raises 4.4 million euros for in-space manufacturingSpaceNews•Aug 07, 2024•DcubeD, Expansion, BayBG Venture Capital, HTGF and 5 others
•
ALDORIA closes million€€ Series A fundingSatNews•Jan 25, 2024•Starquest Capital, European Innovation Council, Bpifrance, Expansion and 7 others
•
French SSA startup Aldoria raises $10.9 millionSpaceNews•Jan 23, 2024•Aldoria, Starquest Capital, Expansion, Wind Capital and 3 others
