London, 27 July 2023.- Leaf Space, a global provider of ground segment services for satellite operators, announced on the 26th July that it has successfully completed a capital increase for a total of €20 million on top of the availability by the European Investment Bank of a loan for a further €15 million through Venture Debt.
Leaf Space launched in 2014 and currently supports around 80 satellites. For the first time this March more than 10,000 successful satellite passes were completed during a single month. Since 2020, it has seen a three-fold year-over-year increase in core business revenue and significant growth in capacity demand.
The round was subscribed by lead investors CDP Venture Capital Sgr and Neva Sgr, alongside SIMEST and Digital Transition Fund. The existing shareholders RedSeed Ventures, Primo Space, and Whysol Investments, all subscribed to the capital increase and contributed to the new funding round, which builds on the previous initiative three years ago. The European Investment Bank (EIB) has committed an additional €15 million in Venture Debt to the Company, and the transaction is in its finalisation stage.
“This funding will enable us to further expand our global network of ground stations as well as add several new locations worldwide,” said Jonata Puglia, Leaf Space CEO and co- founder. “We also plan to support new frequencies for remote sensing satellites, continue simplifying the user experience of our services, hire new talent to scale up our activities, and proactively work on new segments of the market and special projects with customers and partners.”
Giovanni Pandolfi Bortoletto, CSO and co-founder, has said within the next 10 years that Leaf Space wants to empower a future where all spacecrafts are seamlessly serviceable and integrated to a plug-and-plug (PnP) connectivity service.