Revolv Space Secures €2.6 Million to Boost Smallsat Performance

28 mag 2024 Revolv Space, Primo Space Fund, Press Release

Torino, Italy / Noordwijk, Netherlands, 28 May 2024 – Revolv Space, a space tech startup based in Italy and the Netherlands, has raised an investment of €2.6 million to revolutionize small satellite capabilities through high-performance mechanisms and power systems.

The investment round, led by Primo Ventures through Primo Space Fund and joined by Takeoff, will significantly accelerate the company’s growth trajectory. It will enable the upcoming In-Orbit Demonstration of Revolv Space’s flagship product, SARA, the world’s first autonomous and fail-safe Solar Array Drive Assembly that increases the performance of small satellites. Additionally, this capital infusion will also facilitate the scaling of production capabilities, directly addressing the surging industry demand for high-performance satellite components.

“This investment propels Revolv into its next pivotal phase: the first SARA unit operating in space, following 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. The support of renowned investors like Primo Space Fund and Takeoff reaffirms our vision and expansion plans. Their expertise in financial management, combined with their extensive network in the space industry, plays a critical role in driving Revolv’s growth”, comments Marco Sala, CEO and Co-founder.

Revolv Space sees rising demand from satellite integrators for high-performance equipment, currently provided only by large contractors.

“Small satellite manufacturers and end users are looking for leaner suppliers who can comply with the budget and schedule of small satellite missions without compromising on quality: this means affordable components delivered with excellent quality and low lead times,” states Filippo Oggionni, who leads the commercial efforts of Revolv Space. “We place clients at the heart of our product development, integrating their feedback from the early stages. Today’s satellite integrators are tired of black-box suppliers; instead, we bet on a transparent and responsive communication approach, which has already paid off with our existing customers.”

“Founded in 2022 by PoliMi and TU Delft alumni, their commercial traction, rapid growth, and strategic vision perfectly align with Primo Ventures’s investment philosophy.” adds Raffaele Mauro, Partner at Primo Space Fund.

Revolv Space is led by a highly skilled and truly international team, currently counting 15 people of 10 different nationalities.

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 the development and commercialization of 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. We are proud to collaborate with such a dynamic and visionary team that has the potential to redefine industry standards in satellite technology.”

The startup is backed by the European Space Agency (ESA) through its Business Incubation Centre in Noordwijk, the Netherlands – also supported by the Netherlands Space Office – where the company has been making great strides in close proximity to ESTEC (the European Space Research and Technology Centre). The fresh funding round has fueled the establishment of a new location for the company in Turin, Italy – an emerging hub in the space sector, home to industry giants like Thales Alenia Space and Leonardo, as well as rapidly expanding firms, such as Argotec and Tyvak International.

"We extend our heartfelt thanks to our mentors, advisors, and earlier investors, including Graduate Entrepreneur, who were instrumental throughout the investment process," Mr. Sala concluded. "Special appreciation goes to our legal counsel, Silvia Bernardi, M&A lawyer at Gianni & Origoni, and our investment advisors, Alberto Emprin and Alessandro Rovera, for their invaluable guidance and support."

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