EIB funds a space firm for the first time; invests €15M in this Italian New Space company

Space missions have evolved in the past few years. The field which was once available only for government backed entities is now the playground of private corporations as well. D-Orbit is one such Italy-based private startup, which has made a name for itself in the space sector. The company has now secured €15 million financing from the European Investment Bank (EIB). 

EIB’s first space firm investment

This is the first time the European Investment Bank has invested in a space firm. The current financing round was led by EIB, with participation from the company’s existing investors such as Seraphim Capital, Noosphere Ventures, Elysia Capital, CDP Venture Capital Sgr, Nova Capital, and TT Venture. This latest funding will enable D-Orbit to carry on with its expansion plans, with the goal of “redefining the standards of the orbital transportation industry.”

Recent launch of in house satellite platform

D-Orbit is one of the few companies in the space sector that has created a proprietary satellite platform called ION Satellite Carrier. This platform is capable of hosting several satellites and deploying them in their precise operational slot in one or more orbits. It is currently completing the ground testing campaign of a new satellite carrier for a second ION mission.

The new space company offers solutions to cover the complete lifecycle of a space mission. This includes mission analysis and design, engineering, manufacturing, integration, testing, launch, and end-of-life decommissioning. D-Orbit says that its capability to offer tailored launch and deployment services sets it apart from the competition. 

The company was founded back in 2011 by Luca Rossettini and Renato Panesi. It currently employs about 80 people, and alongside the Italy HQ, its subsidiaries are present in Lisbon, Portugal, Washington DC, and Harwell, UK. 

Back in March this year, the company secured a funding of over €8.46M. This round was led by Italian Neva F.I.R.S.T., along with some new and existing investors. Amongst the new investors were 808 Ventures, View Different, Savim, and two Italian private investment vehicles Geostazionaria and ClubDealOnline.