Leaf Space, a prominent provider of ground segment services for satellite operators, has secured €35 million in funding to expand its global network and revolutionize satellite communications. The funding includes a capital increase of €20 million and a loan of €15 million from the European Investment Bank through venture debt.
Lead investors CDP Venture Capital Sgr (through Fondo Evoluzione) and Neva Sgr, along with SIMEST and Digital Transition Fund, have subscribed to the round. Additionally, existing shareholders RedSeed Ventures, Primo Space, and Whysol Investments have contributed to the capital increase, reaffirming their confidence in Leaf Space’s capabilities and potential for growth.
The funding will enable Leaf Space to enhance its global network of ground stations and establish new locations worldwide. The company also plans to support new frequencies for remote sensing satellites, improve the user experience of its services, expand its workforce, and explore new market segments and projects with customers and partners.
Leaf Space’s innovative Network Cloud Engine is disrupting the satellite communications industry and has the potential to bring about a transformation comparable to the shift from manual to automatic switching in telephone exchanges. With a growing market and increasing volumes of data and satellite information, efficient and convenient transfer of these resources will become increasingly important.
Mario Scuderi, Head of the Fondo Evoluzione, praised Leaf Space’s Network Cloud Engine and highlighted the significance of efficient data transfer in the satellite communications industry. Mario Costantini, CEO and General Manager of Neva SGR, expressed excitement about being part of Leaf Space’s journey and contributing to the company’s advancements in satellite communications.
Founded in 2014 and headquartered in Lomazzo, Italy, Leaf Space currently supports approximately 80 satellites and achieved over 10,000 successful satellite passes in a single month in March. The company has experienced a three-fold year-on-year increase in core business revenue since 2020 and a significant growth in capacity demand. In January 2021, Leaf Space raised €5 million in a Series A financing round.
Leaf Space’s ground segment services play a crucial role in managing satellite communications, data downlink and uplink operations for satellite operators worldwide. Combining advanced software solutions, a network of ground stations, and a team of experts, Leaf Space has established itself as a trusted partner in the satellite industry. With its latest funding, the company aims to expand further and solidify its position as a leading Ground Segment-as-a-Service (GSaaS) operator globally.
