August 5 (SeeNews) - Bulgarian aerospace manufacturing startup EnduroSat will invest some 4.2 million levs ($2.5 million/2.1 million euro) in the construction of the first laboratory for nanosatellites in Sofia, the economy ministry said on Thursday.
Endurosat's investment project for development and implementation of a shared satellite service will open 29 new jobs, the economy ministry said in a statement.
Founded in 2015, EnduroSat designs, builds and operates nanosatellites for a range of commercial, exploration and science missions. It focuses on inter-satellite connectivity and space data applications.
The company made a revenue of 2.04 million levs and a net profit of 194,000 levs in 2019, according to its latest available annual financial statement.
(1 euro = 1.95583 levs)