AIKO Secures €3.5 Million in Series A to Accelerate Global Growth

09 ott 2024 Press Release, AIKO

Deep Blue Ventures (DBV), the Deep Tech Venture Capital fund managed by Deep Ocean Capital SGR SpA, and Primo Ventures SGR S.p.A., through the space tech-specialized venture capital fund Primo Space, announce a €3.5 million investment in AIKO, the Italian scale-up developing advanced AI and automation-based software for space applications.

This operation, which brings AIKO's total funding to €6.5 million, is part of a €5 million capital increase that is still ongoing and open to new investors. The goal is to accelerate the start-up's growth and support its international expansion.

Deep Blue Ventures and Primo Ventures (already an investor in AIKO’s €1.5 million 2020 round) will support the scale-up’s growth on multiple fronts: continuing its internationalization in France and starting its U.S. expansion while accelerating the commercial scalability of its existing software solutions. The strategy aims to consolidate AIKO’s presence in the enterprise software market over the next two years.

For Deep Blue Ventures, the lead investor in this round, AIKO represents the fund's fifth investment since its debut in May 2023. The fund, created to support startups, spin-offs, and more broadly, innovation initiatives in aerospace, healthcare, and sustainability sectors, plans to complete five more deals by the first half of 2025.

“With this round, we aim to position ourselves as a global company capable of serving all major players in the space industry both in Europe and the U.S. Our vision is to become the world’s leading supplier of cutting-edge AI-based software solutions for space applications. This operation is a key milestone at a crucial moment in our growth, allowing us to scale our solutions and expand overseas," said Lorenzo Feruglio, Founder and CEO of AIKO. “Our goal is to enable autonomous space missions, where technology can make a difference both in fault prevention and in optimizing the many delicate operations required for successful space missions.”

Emilia Garito, Founder & President of Deep Ocean Capital SGR, added: "AIKO is an exceptional example of Italian innovation in space automation. With this investment, we want to contribute to its global growth and accelerate its impact on space mission automation. As a deep tech-focused fund, our goal is to support companies like AIKO that are building the future of strategic sectors for the European economy and market, starting with the promotion of Italian industrial excellence and our 'Made in Italy' know-how.”

Matteo Cascinari, General Partner of Primo Space, added: "AIKO was our very first investment, and having witnessed the team's ability to develop high-level technological solutions and gain the trust of industry players, we are convinced of the team's capacity to navigate the next growth phase. The use of AI in space still has vast growth potential, and we believe AIKO is well-positioned to meet this market need."

International Expansion: From France to the U.S.

The new funding will allow AIKO to implement its European development strategy (growing the team from 40 to 70 people) and plan a global strategy. The new funds will also support the growth of AIKO’s Toulouse office, expanding the team and strengthening its presence in France. Another goal is to expand into the U.S., the global leader in the space economy, where AIKO plans to open a branch by 2025.

An Integrated Platform for Space Economy Automation

AIKO will use the funds to scale its onboard and ground software solutions with the ultimate goal of offering an integrated platform to partners, capable of automating the entire operational process of a mission. The goals include enhancing the features and global distribution of gifted_GENE, its predictive maintenance software for space missions, and orbital_OLIVER, the onboard operating system that enables autonomous operations for spacecraft.

Deep Learning, Security, and AI Research and Development

With this round, AIKO aims to consolidate its position as an innovator in the international space economy, strengthening its leadership in advanced areas such as data analysis, robotics, and space automation.

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