Turin-based space technology company Revolv Space, which designs and manufactures motion and power generation systems for satellites, has raised €5 million in a Series A funding round led by Deep Ocean Capital SGR, through its Deep Blue Ventures and Deep Blue Space Ventures funds, with participation from Primo Capital SGR, CDP Venture Capital, and Sole Ventures, as Vestbee was informed.
- Founded in 2022, Revolv Space develops satellite components, including solar array drive assemblies, deployment hinges and solar arrays. Its products are designed for satellites weighing up to 1,000 kilograms and have been validated through ground testing and in-orbit operations.
Details of the deal
- The fresh capital will support the industrialisation of Revolv Space's existing satellite systems, increase production capacity and fund the development of a new line of compatible solar arrays.
"This new investment will support the company’s transition to production at scale, with the ambition of becoming one of Europe’s leading suppliers enabling the development of satellite infrastructure,” claims Raffaele Mauro, General Partner at Primo Capital.
- The company also plans to triple its Turin production site to 1,500 square metres and hire around 25 employees over the coming years. Currently employing 40 people, Revolv Space has delivered more than 83 units, 27 of which are already in orbit.
