Revolv Space, a spacetech startup with offices in Italy and the Netherlands, announces that it has closed a €2.6 million round to improve the capabilities of small satellites through advanced mechanisms and high-performance power generation systems.
The financing, led by Primo Ventures through the Primo Space fund with the support of Takeoff, the aerospace and advanced hardware accelerator of the CDP Venture Capital National Network, marks a key milestone in Revolv Space’s growth. The capital raised will enable the in-orbit demonstration of SARA, the first autonomous, fail-safe solar panel actuator, designed to significantly improve the performance of small satellites. In addition, the investment will facilitate the expansion of the company’s manufacturing capabilities, responding to the growing demand for advanced satellite components.
The startup is supported by the European Space Agency (ESA) through its Business Incubation Centre in Noordwijk, the Netherlands, where the company was born. Revolv Space has taken its first steps near ESTEC, ESA’s technology centre. The new round of funding has allowed the opening of a new office in Turin. The opening of the office was facilitated by the investment attraction team of the Foreign Center for the Internationalization of Piedmont (CEIP), supported by the Piedmont Region and the Piedmont Chamber of Commerce System.
“Since January, Revolv Space has already hired five people of three different nationalities, confirming the growing attractiveness of the Italian space ecosystem in the European context. This investment takes us into the next crucial phase of Revolv Space’s growth,” Marco Sala, co-founder and CEO of Revolv Space, said in a statement and the protagonist will be the in-orbit demonstration of the first SARA unit, which follows a rigorous qualification campaign to ensure the reliability of the product and which confirms the quality of our design approach. The capital increase will also allow us to enhance our manufacturing capabilities to cater to satellite constellation customers, marking a key step in our mission to push the boundaries of the commercial space with innovative robotics and energy solutions. The support of renowned investors such as Primo Space Fund and Takeoff confirms our vision and expansion plans. Their experience and network in the space industry are key to driving Revolv’s growth. Growth also means hiring. In fact, since January, we have already hired five people of three different nationalities, and we plan to hire four more, in the Turin area, confirming Revolv’s commitment to the development of the Italian and European space ecosystem.”
“Founded in 2022 by alumni from Politecnico di Milano and TU Delft, the company has demonstrated rapid growth and a clear strategic vision, in line with Primo Ventures’ investment philosophy,” adds Raffaele Mauro, partner at Primo Space Fund.
Eugenia Forte, Director of Takeoff Accelerator, said: “We are thrilled to support Revolv Space at this crucial stage of its growth. The team’s innovative approach to the development and commercialization of space technologies represents a significant breakthrough for the industry. This investment will allow Revolv to accelerate the development and production of state-of-the-art systems, responding to the needs of a rapidly expanding market. We are proud to partner with such a dynamic and visionary team, which has the potential to redefine the standards of satellite technology.”
ALL RIGHTS RESERVED ©