Bari-based SpaceTech firm Astradyne has closed a €2 million Seed funding spherical to speed up the event of Photo voltaic-Z, its ultralight photo voltaic panel designed for house functions.

The spherical was led by Primo Capital by way of the Primo House fund, the primary VC automobile solely devoted to the House Financial system within the European Union. The spherical additionally noticed participation from Galaxia, the Nationwide Know-how Switch Hub for Aerospace, launched by CDP Enterprise Capital’s Know-how Switch Fund along with Obloo Ventures (already an investor within the pre-Seed spherical), Eureka! Fund I–Know-how Switch, and the Puglia co-investment fund, each managed by Eureka! Enterprise SGR.

“Our aim is to supply lighter, cheaper, and faster-to-deploy house energy era techniques, addressing the primary bottlenecks of present in-orbit photovoltaic applied sciences,” stated Davide Vittori, CEO of Astradyne. “Due to this spherical, we are able to speed up in the direction of in-orbit qualification and strengthen our know-how roadmap. On the identical time, we’re exploring selective know-how switch paths to Earth in sectors the place lightness and portability of photovoltaic options are vital.”

Based in 2021, Astradyne develops photovoltaic options designed for the New House Financial system, with the goal of creating satellite tv for pc energy techniques lighter, extra compact, and extra environment friendly – considerably lowering launch prices and growing in-orbit efficiency.

Its applied sciences, conceived for orbit, additionally discover functions on Earth in superior and specialised contexts.

“We determined to guide this funding as a result of we think about Astradyne an especially promising firm, pushed by a crew with glorious engineering capabilities and a transparent product and market imaginative and prescient,” stated Matteo Cascinari, Basic Associate of Primo House Fund. “Astradyne, our seventeenth funding, enriches a diversified portfolio spanning almost each discipline of the House Financial system in Italy and Europe.”

With this funding, Astradyne goals to achieve Know-how Readiness Degree (TRL) 9 for Photo voltaic-Z , full in-orbit testing onboard Low Earth Orbit (LEO) satellites and set up agreements with satellite tv for pc integrators and producers.

In parallel, the corporate is creating a complementary product line, Photo voltaic-Y , for superior terrestrial functions – from building to agriculture to cell vitality techniques – adapting space-designed options to new wants on Earth, with the aim of rethinking how we generate vitality in dynamic contexts.​

“We’re proud to resume our belief in Astradyne, with the aim of serving to make satellite tv for pc efficiency more and more environment friendly, sustainable, and accessible,” stated Claudia Pingue, Head of the Tech Switch Fund at CDP Enterprise Capital. “With Galaxia, we goal to spice up upstream house options, assured that Astradyne’s technological excellence and crew imaginative and prescient are key components to attaining this aim.”

“The funding in Astradyne completely matches the technique of Eureka! Fund I – Know-how Switch, which targets worth creation from functions enabled by revolutionary supplies,” added Massimo Gentili, Associate at Eureka! Fund. “In house part functions, the power to minimise weight and quantity with out sacrificing efficiency is essential. Astradyne’s alternative to make use of new sorts of versatile, reconfigurable supplies primarily based on satellite tv for pc – particular wants gives an plain aggressive benefit in comparison with options presently in the marketplace.”