PICOSATS successfully closes another investment round, strengthening its commitment to the development of innovative space technology.
The leading Trieste-based satellite telecommunications company announced the closing of its second investment round of 2.13 million euros.
The investment round in which participated LIFTT S.p.A., Progress Tech Transfer and Galaxia, the national aerospace technology transfer hub of CDP Venture Capital Sgr, raised a significant sum that will enable PICOSATS to continue to innovate and develop advanced technology solutions in the space sector.
This new capital injection represents a vote of confidence in growth potential of PICOSATS and strengthens its position as a leader in the satellite telecommunications industry. The funds raised will be used for expansion of research and development activities, the enhancement of the technology infrastructure and actions to expand business operations. The company aims to achieve several goals, including demonstrating Ka-band technology developed with the support of the European Space Agency through an in-orbit mission in collaboration with D-Orbit S.p.A. It is also working on developing a modem that enables high data rates.
PICOSATS has demonstrated continued success in providing innovative solutions that are breaking new ground in satellite communication. The telecommunications systems developed by the company will revolutionize access to space, offering greater flexibility and lower costs than traditional technologies.
The legal representative of PICOSATS, Mario Fragiacomo enthused,"The closing of this investment round is an important milestone for PICOSATS and a recognition of our commitment to innovation in the space sector. This new capital will enable us to accelerate our research and development and bring even more advanced solutions to market. We are grateful to our investors for their confidence in us, and we are determined to continue pushing the limits of space technology."
The closing of this investment round confirms PICOSATS' role as a leader in the space industry, and the company is excited to further its mission of making space accessible to all, opening new opportunities for scientific research, and satellite telecommunications.
Guido Panizza, Head of Project Management at LIFTT, said, "PICOSATS presides within our portfolio over a business segment with high potential, which is that of aerospace telecommunications. For us at LIFTT, contributing to the significant step of putting the project into orbit represents a decisive attestation of esteem and confidence in a high-profile technology and team such as PICOSATS. Moreover, the closing of this new round and the progression of this project exemplarily represent the importance of Technology Transfer as an essential element in the overall growth of the Country System."
Francesco De Michelis of Progress Tech Transfer said, "Since we made the first investment in 2022 PICOSATS has continued to grow, both technically and commercially. The quality of the company's proposed technical solution is evidenced by the prominence and prestige of the pool of investors who participated in this investment round."
PICOSATS' satellite communications solutions are capable of bringing relevant innovation to a market that is already expanding very stronglybeing able to miniaturize both outbound and inbound equipment in ground receiving stations, while increasing the number of communications available as the satellite passes into orbit and reducing operating costs," comments Claudia Pingue, Head of the Technology Transfer fund at CDP Venture Capital Sgr, "We created the Galaxia National Aerospace Technology Transfer Pole precisely to stimulate the development of startups developing services for upstream and downstream potentially game changers in the market. We are proud to contribute to the growth of PICOSATS."
(Source: Liftt)
