TURIN, Italy (ASI PR) — The incubator linked to space supported by ESA and ASI and born from the synergy between the Incubator of the Polytechnic of Turin I3P, the Polytechnic of Turin and the LINKS Foundation, inaugurates in Turin the new node of the European network, the ESA Business Incubation Center Turin, with the aim of supporting innovative companies in the space sector.

The start-up and technological and business development of new innovative companies in the Space Economy sector is the main purpose of the ESA Business Incubation Center Turin (ESA BIC Turin), which officially inaugurates the works with an opening ceremony at the Politecnico di Turin and with the launch of the first call dedicated to the most promising startups in the space sector who want to receive support from this new incubation center and become part of its ecosystem.

Closing its Series A round, the Italian startup raised €5 million, with both Primo Space and Whysol Investments contributing €2 million each

LOMAZZO, Italy (Leaf Space PR) – Leaf Space, the Italian ground segment as-a-service company focused on microsatellites, announced it has completed its Series A financing round of €5 million [$6 million], bringing its total funding to €10 million [$12 million]. A contribution of €2 million [$2.4 million] came from Primo Space, the investment fund of Primomiglio SGR focused on investments in highly innovative companies in the space industry. The other €3 million [$3.6 million] of investment were between Whysol Investments, acting as lead investor, and RedSeed Ventures, an early-stage investor of the company that had already joined the equity round last spring.

• Primomiglio SGR launches first Italian venture capital fund – ‘Primo Space’ – focusing on space investments, with first closing at €58 million and target size of €80 million.
• European Investment Fund (EIF) and CDP Venture Capital SGR act as cornerstone investors in the fund, which was developed with the support of the Italian Space Agency.
• €30 million EIF commitment backed by the new InnovFin Space initiative and the Investment Plan for Europe of the European Commission.

BRUSSELS (European Commission PR) — Italian fund manager Primomiglio  announces the first closing of Primo Space, an early stage venture fund focused on space start-ups.

The first closing of Primo Space reached an initial amount of €58 million with contributions of the European Investment Fund (EIB group), CDP Venture Capital SGR through the VenturItaly Fund of Funds, Compagnia di Sanpaolo, Luigi Rossi Luciani S.a.p.a., Banca Sella, in addition to the SGR itself and its key men.

• EUR 100 million contingent loan for the new Ariane 6 launcher programme, a European Space Agency programme with ArianeGroup as Industrial lead contractor and design authority
• First EUR 100 million venture capital programme under InnovFin to support innovation and growth of European smaller and medium-sized space technology companies

LUXEMBOURG (EIB PR) — The European Commission is partnering with the European Investment Bank Group, announcing EUR 200 million of investments into the EU space sector, supporting ground-breaking innovation in the industry. During the European Space Policy Conference  in Brussels, EIB Vice-President Ambroise Fayolle is signing an agreement with André-Hubert Roussel, CEO of ArianeGroup, confirming a EUR 100 million loan for the new Ariane 6 launcher programme.