Space Product and Innovation (SPiN), a leading provider of innovative modular space manufacturing solutions, announced the successful closure of a €1.63 million seed funding round led by Galaxia, the Italian Technology Transfer Hub on Aerospace powered by CDP Venture Capital, together with Obloo Ventures, with participation from Scientifica Venture Capital and Innova Venture. This significant investment will propel SPiN’s mission to revolutionize space manufacturing and democratize access to space.
Based in Frascati, Italy, SPiN stands at the forefront of transforming the aerospace industry with its groundbreaking approach. SPiN addresses these challenges by offering affordable, innovative, and state-of-the-art space manufacturing solutions, transforming satellites into modular systems with their groundbreaking Multipurpose Adapter Generic Interface Adapter, MA61C.
SPiN’s mission is to democratize access to space by providing high-quality, innovative, and affordable space manufacturing solutions. SPiN’s modularity-as-a-service approach reduces design costs by 50%, production costs by 30%, and integration time by a year for spacecraft manufacturers. The company empowers satellite manufacturers to allocate resources where they matter most, fostering the pursuit of new ventures in the short and long term.
In the words of Ran Qedar, SPiN’s Chief Executive Officer: “Space exploration is limited by inefficient designs and lengthy processes. SPiN empowers satellite manufacturers to focus resources where it matters, enabling them to pursue new ventures efficiently.”
SPiN has raised a total of €1.74 million to date, including a previous investment of €140 thousand from Business Angel investment and accelerator programs. Galaxia led the recent seed round, with Scientifica Venture Capital and Innova Venture participation.
Claudia Pingue, the manager of CDP Venture Capital’s Tech Transfer Fund, commented: “We are excited to support SPiN in its mission to revolutionize space manufacturing. Their innovative approach aligns with our vision to promote and advance breakthrough technologies and new businesses in aerospace.”
“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,” stated Riccardo D’Alessandri, Managing Partner of Scientifica Venture Capital. “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,” he added.
As a part of the funding round, a representative from Galaxia will join SPiN’s board of directors, and the startup’s headquarters will move from Germany to Italy. The funds will be utilized to scale the startup, intensify research and development, explore commercial opportunities, and further qualify the hardware in an operational environment.
Founded in 2015 by Ran and Saish during their studies at TU Delft, SPiN originated from the challenges of complicated satellite integration faced during a university project. Giulia joined the team, and SPiN was officially founded in Germany in September 2015.
Since then, The company has achieved significant milestones, joining the European Space Agency Business Incubation Center (ESA BIC) and becoming a Techstars portfolio company. It received recognition, such as being selected for the Top 70 Innovative Companies for Pioneers in 2016 and the Top 500 Companies for Hello Tomorrow 2019. The company’s adapter has earned accolades at various competitions, including Startup Weekend Space in 2015, the INNOSpace Masters in 2016 and Space2Connect in 2023.
