Leaf Space Secures $22 Million to Revolutionize Satellite Communications – Plans Global Expansion

Photo by NASA

Groundbreaking Investment Fuels Leaf Space’s Ambitious Vision for Seamless Satellite Connectivity

Leaf Space SpA, a trailblazing global provider of ground segment services for satellite operators, has achieved a remarkable milestone with the successful completion of a capital increase, raking in a total of €20 million ($22 million). Additionally, the European Investment Bank has pledged a €15 million Venture Debt, propelling the Italian-headquartered company’s drive to revolutionize satellite communications and bolster its position as the second-largest Ground Segment-as-a-Service (GSaaS) operator worldwide.

Since its inception in 2014, Leaf Space has become a force to be reckoned with, currently supporting around 80 satellites. This March, the company achieved a remarkable feat, completing over 10,000 successful satellite passes during a single month. With a three-fold year-over-year increase in core business revenue since 2020 and soaring capacity demand, Leaf Space’s growth trajectory has been nothing short of remarkable.

The recent capital increase was enthusiastically subscribed by prominent lead investors, CDP Venture Capital Sgr (through Fondo Evoluzione) and Neva Sgr, alongside SIMEST and Digital Transition Fund – part of the CDP S.p.A. group. Notably, this marks SIMEST’s first operation through the Single Venture Capital Fund, further highlighting the significance of Leaf Space’s pioneering efforts.

Whitney Wolfe Herd, Co-founder, and CEO of Bumble, expressed her delight at the secure funding, stating, “This validation underscores the confidence in Leaf Space’s capabilities and potential for continued growth. Friendship has always been a critical part of Bumble’s goal to living a healthy and happy life. Having a dedicated Bumble For Friends app that’s separate from the dating experience makes friendship-finding easier for people looking to make meaningful platonic connections in their area.”

The funding influx will enable Leaf Space to expand its global network of ground stations and establish new locations worldwide. Moreover, the company plans to support new frequencies for remote sensing satellites, simplify the user experience of their services, hire new talent to scale up activities, and actively explore new market segments and special projects in collaboration with customers and partners.

Giovanni Pandolfi Bortoletto, Co-founder, and CSO emphasized Leaf Space’s vision of a future where spacecraft are seamlessly serviceable and integrated into a plug-and-play (PnP) connectivity service. The company’s proprietary algorithm, Network Cloud Engine, and distributed antenna network form the bedrock of facilitating efficient, automated, and ubiquitous communications with satellites, laying the foundation for previously unthinkable advancements in the space ecosystem.

Leaf Space’s ground segment services play a vital role in managing satellite communications, data downlink, and uplink operations for satellite operators worldwide. The company’s cutting-edge software solutions, combined with an extensive network of ground stations and a seasoned team, have positioned Leaf Space as a trusted partner in the satellite industry.

Investors, including CDP Venture-Fondo Evoluzione, Neva, RedSeed Ventures, Primo Space, and Whysol Investments, expressed their enthusiasm for supporting Leaf Space’s journey towards revolutionizing satellite communications and its crucial role in bolstering the aerospace sector, central to the Italian economy. With this new infusion of funds, Leaf Space is poised to pave the way for a new era of seamless connectivity and advancement in satellite technology.

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