Undisclosed · Growth/Late · Space · Mérignac, France
Mérignac-based Novespace has received an undisclosed strategic investment from Space Cargo Unlimited as part of a restructuring of its shareholder base. Space Cargo and a group of private investors are joining CNES, which remains the majority shareholder, while existing investor Elevation Capital Partners is reinvesting through its Elevation Growth fund. The transaction terms and ownership stakes were not disclosed.
Novespace operates the Airbus A310 ZERO-G from Bordeaux-Mérignac Airport. By flying repeated parabolic manoeuvres, the aircraft creates short periods of microgravity or reduced gravity in which researchers can work directly with experiments. ESA says these flights support hands-on testing, rapid prototyping and validation of hardware and procedures before space missions. Each ESA campaign comprises three flights with 31 parabolas per flight, providing about 20 seconds of microgravity per parabola. Novespace also runs commercial discovery flights through Air Zero G.
The company was founded in 1986 and works with European agencies including CNES, ESA and DLR. Elevation says its eight-year involvement has helped strengthen governance, international positioning and commercial activity, including the appointment of ESA astronaut Thomas Pesquet as chief executive in April 2025.
A flight path from seconds of microgravity to orbit
Space Cargo Unlimited is building BentoBox, a modular platform intended to support autonomous experimentation and manufacturing across different spacecraft and return vehicles. Its investment thesis is that Novespace adds an earlier stage to that offering: teams can test equipment, processes and human-operated experiments during parabolic flights before committing them to longer and more expensive orbital missions.
That connection can make microgravity development more iterative. A parabolic campaign offers repeated, observable trials measured in seconds, while an orbital mission can provide sustained microgravity but demands more integration, launch planning and capital. Putting both within one commercial network could reduce the hand-offs between early validation and in-orbit deployment. That is the strategic promise; Space Cargo's future orbital manufacturing and return infrastructure still has to become regularly available, and the companies must show that customers move from one platform to the next.
The capital structure matters as much as the product fit. Space Cargo becomes a shareholder and founder Nicolas Gaume joins Novespace's board, but CNES retains control and Elevation remains invested. This is therefore an undisclosed growth transaction and shareholder reorganisation, not evidence of a fully private takeover or a disclosed cash round. The next proof point is whether the new shareholder group opens additional commercial research and manufacturing demand while preserving Novespace's agency-backed scientific flight programme.
