Leaf Space raises 20 million euros in a Series B round. Photo: Leaf Space

Ground segment service provider Leaf Space raised 20 million euros ($22 million) in a Series B round announced July 25. The company also took on a 15 million euro ($17 million) loan from the European Investment Bank of venture debt. 

CDP Venture Capital Sgr (through Fondo Evoluzione) and Neva Sgr led the round, with participation from SIMEST and Digital Transition Fund. Existing shareholders RedSeed Ventures, Primo Space, and Whysol Investments participated as well. 

Leaf Space is based in Italy and says it is the second-largest ground segment-as-a-service (GSaaS) operator in the world. The company currently supports around 80 satellites and in March of this year, it achieved more than 10,000 successful satellite passes during a single month​ for the first time. 

“This funding will enable us to further expand our global network of ground stations as well as add several new locations worldwide. We also plan to support new frequencies for remote sensing satellites, continue simplifying the user experience of our services, hire new talent to scale up our activities, and proactively work on new segments of the market and special projects with customers and partners,” said Jonata Puglia, Leaf Space CEO and co- founder.