Ghent, Belgium, Oct 21, 2025 - nxgsat, a pioneer in next-generation satellite communications, announced the successful closing of a €1.2 million seed funding round led by PMV and imec.istart future fund. This investment will catalyze the acceleration of nxgsat’s flagship project - a high-speed, 5G satellite modem designed to enable seamless interoperability across terrestrial and multi-orbit satellite networks.
Satellite networks today are mostly closed and proprietary where the satcom modem only works on a single provider’s network. Alain Rolle, Founder and CEO/CTO of nxgsat, explained: “Imagine that your smartphone would only connect to a single mobile network - that’s the current reality of satellite communications. nxgsat is on a mission to change that.”
By championing open standards such as 3GPP, the company is enabling users to move effortlessly between different networks, dismantling the barriers that have long hindered interoperability in the satellite industry. At the heart of this vision is its high-speed 5G NR NTN (New Radio Non-Terrestrial Networks) standard compliant satellite modem. This modem is fully software-defined and runs on generic commercial off-the-shelf (COTS) hardware, avoiding the need for expensive purpose-built systems.
The newly raised funds will be used to accelerate product development, expand technical and commercial teams, and advance market deployment of nxgsat’s technology.
nxgsat has already demonstrated strong early market traction, securing commercial and governmental contracts within the space sector. With its 5G satellite modem technology, nxgsat is well-positioned as a key contributor to European initiatives such as IRIS², the EU’s sovereign LEO/MEO satellite constellation aimed at secure, independent connectivity.
Alain Rolle, Founder and CEO/CTO of nxgsat, commented: “This funding marks a pivotal step in our journey. With the backing of PMV and imec.istart future fund, we are now able to engage in larger-scale programs and strengthen both our technical and commercial teams. This will further reinforce our ambition to make high performance interoperable satellite connectivity a reality for tomorrow’s users.”
Kris Vandenberk, Managing Partner at imec.istart future fund, said: “nxgsat is led by seasoned industry veterans redefining satellite communications through a software-defined, standards-based approach. Its technology embodies Europe’s deep-tech strength and its vision for open, secure, and interoperable connectivity. We believe nxgsat’s innovation will play a defining role in shaping the future of global communications.”
Roald Borré, Member of the Executive Committee and responsible for Equity Investments at PMV, added: "The international race for global connectivity determines who sets the digital tone. With nxgsat, PMV is supporting Flemish technology that can make a real impact – and help determine the direction of both European and international satellite communications. In this way, we are giving local innovation the opportunity to break through globally.”
Satellite networks today are mostly closed and proprietary where the satcom modem only works on a single provider’s network. Alain Rolle, Founder and CEO/CTO of nxgsat, explained: “Imagine that your smartphone would only connect to a single mobile network - that’s the current reality of satellite communications. nxgsat is on a mission to change that.”
By championing open standards such as 3GPP, the company is enabling users to move effortlessly between different networks, dismantling the barriers that have long hindered interoperability in the satellite industry. At the heart of this vision is its high-speed 5G NR NTN (New Radio Non-Terrestrial Networks) standard compliant satellite modem. This modem is fully software-defined and runs on generic commercial off-the-shelf (COTS) hardware, avoiding the need for expensive purpose-built systems.
The newly raised funds will be used to accelerate product development, expand technical and commercial teams, and advance market deployment of nxgsat’s technology.
nxgsat has already demonstrated strong early market traction, securing commercial and governmental contracts within the space sector. With its 5G satellite modem technology, nxgsat is well-positioned as a key contributor to European initiatives such as IRIS², the EU’s sovereign LEO/MEO satellite constellation aimed at secure, independent connectivity.
Alain Rolle, Founder and CEO/CTO of nxgsat, commented: “This funding marks a pivotal step in our journey. With the backing of PMV and imec.istart future fund, we are now able to engage in larger-scale programs and strengthen both our technical and commercial teams. This will further reinforce our ambition to make high performance interoperable satellite connectivity a reality for tomorrow’s users.”
Kris Vandenberk, Managing Partner at imec.istart future fund, said: “nxgsat is led by seasoned industry veterans redefining satellite communications through a software-defined, standards-based approach. Its technology embodies Europe’s deep-tech strength and its vision for open, secure, and interoperable connectivity. We believe nxgsat’s innovation will play a defining role in shaping the future of global communications.”
Roald Borré, Member of the Executive Committee and responsible for Equity Investments at PMV, added: "The international race for global connectivity determines who sets the digital tone. With nxgsat, PMV is supporting Flemish technology that can make a real impact – and help determine the direction of both European and international satellite communications. In this way, we are giving local innovation the opportunity to break through globally.”
About nxgsat
nxgsat is a Belgian spacetech company that delivers 5G-based satellite modem technology. By leveraging open standards for satellite communications, nxgsat is enabling a new era in which devices switch seamlessly between terrestrial and satellite networks. It aims to be a driving force in Europe’s leadership and autonomy in next-generation communications.
For more information, please contact press@nxgsat.com.
About imec.istart future fund
imec.istart future fund is an independent venture capital fund aimed at supporting technology companies at the (late) seed/series A stage in Belgium, The Netherlands and Italy. While our primary emphasis is on backing promising graduates of the imec.istart accelerator program, we also strategically invest in exceptional companies outside of the accelerator network. Our unwavering commitment lies in fostering long-term value-added partnerships with our portfolio companies, guiding their growth and success.
For additional information, please visit https://www.imecistartfuturefund.com.
About PMV
As an investment company, PMV is building a sustainable Flemish economy, the engine of our prosperity and well-being. We are the partner of ambitious companies and projects that focus on social impact and financial returns. PMV finances promising companies from their early stages through to growth and internationalisation. PMV offers tailor-made financial solutions to all entrepreneurs with a sound business plan and a strong management team. It does so with capital, loans and guarantees. In addition, it carries out projects that are important for prosperity and well-being in Flanders, with and for the government and other partners. PMV has a portfolio of €1.9 billion under management. www.pmv.eu
Contact:
Frank Kindt, PMV spokesperson,
frank.kindt@pmv.eu,
tel.: +32 472 420 790
nxgsat is a Belgian spacetech company that delivers 5G-based satellite modem technology. By leveraging open standards for satellite communications, nxgsat is enabling a new era in which devices switch seamlessly between terrestrial and satellite networks. It aims to be a driving force in Europe’s leadership and autonomy in next-generation communications.
For more information, please contact press@nxgsat.com.
About imec.istart future fund
imec.istart future fund is an independent venture capital fund aimed at supporting technology companies at the (late) seed/series A stage in Belgium, The Netherlands and Italy. While our primary emphasis is on backing promising graduates of the imec.istart accelerator program, we also strategically invest in exceptional companies outside of the accelerator network. Our unwavering commitment lies in fostering long-term value-added partnerships with our portfolio companies, guiding their growth and success.
For additional information, please visit https://www.imecistartfuturefund.com.
About PMV
As an investment company, PMV is building a sustainable Flemish economy, the engine of our prosperity and well-being. We are the partner of ambitious companies and projects that focus on social impact and financial returns. PMV finances promising companies from their early stages through to growth and internationalisation. PMV offers tailor-made financial solutions to all entrepreneurs with a sound business plan and a strong management team. It does so with capital, loans and guarantees. In addition, it carries out projects that are important for prosperity and well-being in Flanders, with and for the government and other partners. PMV has a portfolio of €1.9 billion under management. www.pmv.eu
Contact:
Frank Kindt, PMV spokesperson,
frank.kindt@pmv.eu,
tel.: +32 472 420 790