Kurs Orbital, an Italian startup in the aerospace sector, has obtained a subsidized loan of 1.1 million euros through the Smart&Start program. Created to support the birth and growth of innovative high-tech startups in Italy, Smart&Start is an incentive program managed by Invitalia, the National Agency for the Attraction of Investments and Business Development.
Founded in 2022, Kurs Orbital is incubated in I3P, the Innovative Business Incubator of the Polytechnic University of Turin, and a partner of Sistema Invitalia Startup. It is also one of the first startups to have completed the incubation program of ESA BIC Turin, of which it was recently proclaimed Startup of the Year for 2024. In March of the same year, it had raised €3.7 million in seed investment in an operation led by OTB Ventures with Credo Ventures, Galaxia, In-Q-Tel and Inovo.
Democratizing space assistance and logistics in orbit
The startup aims to democratize in-orbit assistance solutions, including space debris removal, orbital satellite transfer, de-orbiting, and satellite inspections, by providing reliable and cost-effective rendezvous and docking technology. Its innovative ARCap module enables space service and logistics industries, which otherwise could not afford to operate in the orbital market, to scale their business.
The funding obtained through Vitalia’s Smart&Start program will allow Kurs Orbital to acquire new equipment, services, personnel and supplies that will give impetus to the completion of its first flight model.
ARCap is a single, standardized rendezvous module that can be integrated into any type of satellite, orbital transfer vehicle (OTV), freight/crew ship, or space bus used by client companies to enable transportation, life extension, in-orbit assistance, space debris removal, and much more.
Volodymyr Usov, CEO and co-founder of Kurs Orbital, said: “We could not have asked for a better conclusion this year”, “The Smart&Start program will provide essential resources to accelerate the activities related to our ARCap module. New personnel and new equipment will make us bigger, stronger and closer to orbit.”
Giuseppe Scellato, President of I3P and Coordinator of ESA BIC Turin, commented: “We are very pleased with this additional funding obtained by Kurs Orbital to support its technological and business expansion plans. The resources received through the financial instrument managed by Invitalia, a partner of I3P, will allow the startup to continue its growth path, also at an international level”.
(Source: I3P press release)
