Space Product and Innovation S.r.l (SPiN), a pioneering provider of modular space manufacturing solutions, has announced the successful closure of a €1.63 million seed funding round. The investment was led by Galaxia, the Italian Technology Transfer Hub on Aerospace powered by CDP Venture Capital, along with Obloo Ventures. Scientifica Venture Capital and Innova Venture also participated in the funding round. This substantial investment will drive SPiN’s mission to transform space manufacturing and democratize access to space.

Founded in 2015 in Frascati, Italy, SPiN is committed to democratizing access to space by offering innovative, high-quality, and cost-effective space manufacturing solutions. The company’s modularity-as-a-service approach significantly reduces design costs by 50%, production costs by 30%, and integration time by a year for spacecraft manufacturers. By empowering satellite manufacturers to allocate resources efficiently, SPiN fosters the exploration of new ventures in both the short and long term.

Ran Qedar, CEO of SPiN, emphasized, “Space exploration is hindered by inefficient designs and lengthy processes. SPiN empowers satellite manufacturers to focus resources where they matter most, enabling them to pursue new ventures efficiently. Our goal is to redefine space manufacturing, making it accessible and efficient. This funding will accelerate our efforts to bring about positive change in the space industry.”

To date, SPiN has raised a total of €1.74M, including a previous investment of €140 thousand from Business Angel investment and accelerator programs. Galaxia spearheaded the recent seed round, with participation from Scientifica Venture Capital and Innova Venture.

Claudia Pingue, manager of CDP Venture Capital’s Tech Transfer Fund, expressed, “SPiN’s innovative approach aligns with our vision to promote and advance breakthrough technologies and new businesses in aerospace.”

Riccardo D’Alessandri, Managing Partner of Scientifica Venture Capital, remarked, “Our decision to invest in SPiN is based on the solid belief that advanced technologies, such as its multipurpose plug-and-play adapter, play a crucial role in the evolution of the aerospace industry. We are confident that this innovative solution has the potential to revolutionize the modularity and efficiency of space missions, opening up new possibilities for space exploration and utilization.”

With the backing of prominent investors and a clear vision for the future of space manufacturing, SPiN is poised to make significant strides in reshaping the aerospace landscape and driving innovation in space exploration.

By Admin

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