Leaf Space secures additional edging closer to seamless satellite connectivity

Leaf Space secures additional edging closer to seamless satellite connectivity
by Robert Schreiber
Como, Italy (SPX) Jul 28, 2023

Leaf Space, the cutting-edge Italian company specializing in satellite connectivity, has successfully secured a capital influx of euro 20 million ($22 million), with an additional euro 15 million loan offer in venture debt from the European Investment Bank (EIB). This remarkable funding round underscores the investment community's confidence in Leaf Space's abilities and its market potential.

Since its launch in 2014, Leaf Space has demonstrated its capacity to excel in the satellite industry. With headquarters in Lomazzo, Como, the company currently assists approximately 80 satellites, marking an impressive 10,000 successful satellite passes in a single month this past March. Since 2020, Leaf Space has registered a tripling of its core business revenue annually, indicating a growing demand for capacity.

The funding round witnessed active participation from lead investors CDP Venture Capital Sgr (through Fondo Evoluzione) and Neva Sgr, alongside SIMEST and Digital Transition Fund. All are part of the CDP S.p.A. group. Notably, SIMEST executed its inaugural operation via the Single Venture Capital Fund, a new direct investment mechanism devoted to aiding the internationalization of Italian start-ups and SMEs.

Also playing a pivotal role in the capital increase were the existing shareholders, RedSeed Ventures, Primo Space, and Whysol Investments. These investors' participation builds on the success of a previous round from three years prior. In addition to the equity funding, the EIB has promised a further euro 15 million in venture debt to the company. The transaction is currently in the final stages of completion.

Jonata Puglia, CEO and co-founder of Leaf Space, lauded the funding, noting it reaffirms their market position as the world's second-largest Ground Segment-as-a-Service (GSaaS) operator. Puglia elaborated on the investment's impact: "This funding will enable us to further expand our global network of ground stations and support new frequencies for remote sensing satellites. We'll be able to continue refining the user experience of our services, hire new talent to escalate our activities, and actively explore new market segments and special projects with customers and partners".

Echoing Puglia, CSO and co-founder Giovanni Pandolfi Bortoletto shared their ten-year vision: "We aim to create a future where spacecraft, irrespective of their mission, application, orbit, or deep space destination, are seamlessly integrated into a plug-and-play connectivity service". Bortoletto further explained how Leaf Space's automatic scheduler and its proprietary algorithm are facilitating efficient and automated communication with satellites, thereby contributing to the sustainable expansion of the space ecosystem.

Leaf Space's advanced software solutions, together with its globally distributed network of ground stations and team of experts, have positioned the company as a key player in managing satellite communications, data downlink, and uplink operations worldwide.

Several investors voiced their support. Mario Scuderi, Head of the Evolution Fund, observed that Leaf Space's unique Network Cloud Engine has the potential to transform the satellite communications industry. Elisa Schembari, President of RedSeed Ventures, expressed pride in the company's growth in the strategic aerospace sector. Mario Costantini, CEO of Neva SGR, lauded Leaf Space's contributions to revolutionizing satellite communications. Giorgio Minola, General Partner at Primo Space, noted the company's vital contribution to the satellite industry and the GSaaS market.