BusinessEquitiesVC/PE

Exclusive: Leaf Space Closes €20M Series B

Image: Leaf Space

Leaf Space, an Italian ground-segment-as-a-service provider, has closed a €20M ($22.1M) Series B as well as an additional €15M ($16.6M) in venture debt through a European Investment Bank loan. 

Leaf Space 101

CEO Jonata Puglia and CSO Giovanni Pandolfi founded the company in 2014 to provide an end-to-end, easy-to-use solution for satellite operators to send instructions to space assets and get data back down to Earth.

“The general idea is really to abstract as much as possible the actual burden of handling a satellite network, so that the customer can actually see us as basically a connectivity provider to the aerospace asset,” Pandolfi told Payload.

By the numbers:

  • The company has 37 employees worldwide, and is aiming to bump that number up to ~60 by the end of the year. 
  • It serves ~40 government and commercial customers actively flying satellites across a variety of market segments. A handful of other companies have signed on for ground segment services for when they launch their first sats.
  • The network supports ~80 satellites and as many as 10,000 monthly passes.

Enter Europe: The European Investment Bank’s loan to Leaf Space, Puglia said, signals institutional support for space activities in Europe and faith in the company’s ability to consistently produce revenue. The €15M loan will be used to continue developing the GSaaS product and user platform.

Looking forward

With this new influx of cash, Leaf Space is looking to expand its base of ground stations across the world. Right now, the company works with 17 ground stations, but is hoping to deploy an additional eight antennas by the end of the year and get its network up to 50+ total stations by the end of 2024.

Leaf Space is also looking to expand the types of services it can provide its customers. In the coming year, Pandolfi said that the company is hoping to add Ka-band support to the network as well as expand the capabilities of its user platform.

Related Stories
BusinessMilitary

Booz Allen Preps for the Golden Dome

The president wants a Golden Dome missile defense system, and the space industry is standing ready to get him one. Booz Allen Hamilton is the latest space firm to publish a concept for a distributed satellite system that could identify and help to intercept missile attacks in their tracks. The constellation design, which the company […]

BusinessPolicy

State Looking For Industry Input In Colorado Springs

The State Department is asking industry how it can better support American space startups, and it’s looking to kick off the conversation at Space Symposium next month. 

BusinessCivilPolicy

AIA Shares Top Space Priorities For 2025

The list includes nearly three dozen to-dos for government agencies ranging from the DoD to the FAA to NASA.

AnalysisBusinessCivil

US Space Companies Make a Run at Europe

After years of investor malaise and memes about the region’s lack of innovation, investing in the EU is suddenly back in vogue.