Ibadan, 6 June 2024. – Revolv Space has raised an investment of 2.6 million euros to revolutionize small satellite capabilities through high-performance mechanisms and power systems. The investment round, which Primo Space Fund led, with participation from Takeoff, will significantly accelerate the company’s growth trajectory.
The investment round will also enable the upcoming In-Orbit Demonstration of Revolv Space’s flagship product, SARA, an autonomous and fail-safe Solar Array Drive Assembly that increases the performance of small satellites. Additionally, this capital infusion will facilitate the scaling of production capabilities, directly addressing the surging industry demand for high-performance satellite components.
The startup receives support from the European Space Agency (ESA) through its Business Incubation Centre in Noordwijk, the Netherlands. Based on the strength of the funding, Revolv Space has also established a new location for the company in Turin, Italy – an emerging hub in the space sector, and home to industry giants like Thales Alenia Space and Leonardo.
Speaking about the funding, Marco Sala, CEO and co-founder of Revolv Space, explained, “This investment propels Revolv into its next pivotal phase: the first SARA unit operating in space, coming after an extensive testing campaign that validates both our product’s reliability and our development philosophy. This investment will also enable us to enhance our production capabilities to serve constellation customers, marking a vital first step in our mission to push the boundaries of commercial space with innovative robotics and energy solutions.”
Likewise, Eugenia Forte, director of Takeoff Accelerator, stated: “We are thrilled to support Revolv Space at this pivotal stage of their growth. The team’s innovative approach to developing and commercializing space technology represents a significant breakthrough in the space sector. This investment will enable Revolv to accelerate the development and production of cutting-edge systems, meeting the demands of a rapidly expanding market.”
