Italy's Leaf Space raises €20 million for expansion of satellite communications network

Italian satellite communications network Leaf Space has raised €20 million in a Series B funding round. The capital will further propel the company’s efforts to establish a market-leading telemetry, tracking, command, and payload data transmission network for satellite operators.

Leaf Space’s €20 million Series B round was led by CDP Venture Capital Sgr (through Fondo Evoluzione) and Neva Sgr. The round also drew the participation of SIMEST and Digital Transition Fund - part of the CDP S.p.A. group, as well as existing shareholders RedSeed Ventures, Primo Space, and Whysol Investments. In addition to the €20 million received from investors, Leaf Space is slated to receive an additional €15 million in venture debt via the European Investment Bank (EIB). The transaction is in its finalisation.

Launched in 2014 and based in Lomazzo (Como), Italy, Space Leaf currently supports approximately 80 satellites and as of this past March, counted more than 10,000 successful satellite passes during a single month. According to the company, since 2020, it has seen a 3x year-over-year increase in core business revenue and significant growth in capacity demand.

“This funding will enable us to further expand our global network of ground stations as well as add several new locations worldwide,” commented Leaf Space CEO and co-founder Jonata Puglia. “We also plan to support new frequencies for remote sensing satellites, continue simplifying the user experience of our services, hire new talent to scale up our activities, and proactively work on new segments of the market and special projects with customers and partners.”