Eutelsat Bets Big on LEO; Sunil Mittal Backs Europe’s Space Future

The satellite industry is getting top attention literally. In a latest development Eutelsat, Europe’s legacy satellite player, is reinventing itself for this new era by raising €1.35 billion to double down on Low Earth Orbit (LEO) connectivity. In a world racing toward universal internet coverage and space-enabled defence, this move positions Eutelsat as a central pillar of Europe’s digital and strategic autonomy.

This financing round, anchored by the French government, Bharti Space, CMA CGM, and Fonds Stratégique de Participations, will strengthen Eutelsat’s hybrid GEO-LEO network and support its role in public programmes like IRIS²—the EU’s secure satellite infrastructure initiative. It also marks a shift in how governments view space: not just a domain of innovation, but a matter of sovereignty. Bharti Space Limited is pumping €31.4 million ( approx. 314.4 core)

A Capital Raise with Strategic Orbit

Of the €1.35 billion capital raise, here is the break up: €716 million will come via a reserved capital increase from the four key investors. And €634 million will be raised via a rights issue for existing shareholders.

Post-transaction, the French State will hold nearly 30% of Eutelsat, with Bharti Space at 18.7%, reinforcing public-private alignment for long-term vision. Looking at the current capital infusion, this isn’t just a funding exercise, rather it’s an effort to redefine Eutelsat as Europe’s Space Champion in a rapidly evolving LEO-dominated world.

Sunil Mittal’s Backing: A Strategic Investment

Bharti Space Limited is pumping €31.4 million ( approx. 314.4 core). Sunil Bharti Mittal, Co-Chairman of Eutelsat Group and Founder of Bharti Enterprises, sees this development as a defining moment.

“I am delighted that under the leadership of President Macron, the French state has decided to back Eutelsat as the European Space Champion and increased its shareholding by injecting a sizeable investment into the company. We are also thrilled to welcome the French armed forces ministry, DGA, partnership with Eutelsat in a long-term €1B contract to reserve capacity on Eutelsat’s low-Earth orbit OneWeb constellation for its mission-critical needs,” Mittal said.

This statement does more than express confidence, it in a way highlights Bharti’s pivotal role in shaping the future of global connectivity. Bharti was an early investor in OneWeb, the LEO network Eutelsat acquired in 2023. With Mittal now co-chairing Eutelsat, the synergy between Indian telecom innovation and European space leadership becomes sharply focused.

Why LEO Enters as a National Priority?

Going by the growth trajectory, the satellite connectivity market is entering a hyper-growth phase. According to Eutelsat, while the overall satellite market is expected to grow at 12% CAGR till 2029, the LEO B2B segment will grow at 28% CAGR, expanding fivefold by the end of the decade.

Eutelsat is one of only two global operators with an operational LEO fleet, and the only one focused solely on B2B and B2G use cases, giving it a distinct edge in serving enterprises, governments, defence, and mobility sectors across land, sea, and air.

With its €3.7 billion order backlog and contracts like the €1B deal with France’s Ministry of Armed Forces, Eutelsat’s LEO services are proving their real-world utility—beyond just broadband access.

India-Europe Space Synergy: A New Frontier

For India, which is rapidly building out its own space-tech ecosystem, Bharti’s leadership at Eutelsat is strategic. It connects India’s telecom ambitions with Europe's space aspirations. Through this alignment, Indian talent, capital, and vision become part of the next-generation infrastructure that underpins secure global communications, defence readiness, and rural connectivity.

Mittal’s presence on the Eutelsat board brings the possibility of cross-market innovation, particularly in underserved geographies where both India and Europe share stakes in closing the digital divide.

Road Ahead for Eutelsat

This capital raise marks more than a balance sheet reshuffle, it’s a declaration of intent. Eutelsat is no longer just a satellite provider. Backed by governments and private giants alike, it’s posturing as a key architect of Europe’s sovereign digital future.

As Sunil Mittal and Eutelsat’s leadership double down on LEO, the real story is this: space is no longer the final frontier, it’s the next battleground for global digital leadership.