Bulgaria-based EnduroSat, a company that designs and engineers spacecraft for business applications and space exploration missions, announced that it has raised venture debt funding of €10M from the European Investment Bank (EIB), the long-term lending institution of the European Union.
The funds were made available by the European Guarantee Fund (EGF), which was set up by the EIB to support EU businesses during the COVID-19 pandemic. This is the first venture-debt operation in Bulgaria under the EGF.