French satellite company Univity completes Series A financing and plans to become "the largest in Europe".

French government-funded satellite Internet startup Univity announced on April 23 that it has completed a Series A financing round of 27 million euros, which will advance its plans to launch thousands of satellites and become the largest satellite operator in Europe, helping Europe reduce its dependence on American satellite Internet services. Univity CEO Charles Delphieu said that the company also secured a contract worth 31 million euros with the French National Center for Space Research. The investors in the Series A financing round include the French National Investment Bank, Blast investment platform, Expansion Venture Capital Fund, and others.