{"id":129701,"date":"2024-04-22T09:00:43","date_gmt":"2024-04-22T07:00:43","guid":{"rendered":"https:\/\/prod1-sb.designtech.space\/primo-space-invests-e2-6-million-in-lithium-lasers-and-ecosmic\/129701\/"},"modified":"2024-04-22T09:00:43","modified_gmt":"2024-04-22T07:00:43","slug":"primo-space-invests-e2-6-million-in-lithium-lasers-and-ecosmic","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/primo-space-invests-e2-6-million-in-lithium-lasers-and-ecosmic\/129701\/","title":{"rendered":"Primo Space invests \u20ac2.6 million in Lithium Lasers and Ecosmic"},"content":{"rendered":"

Lithium Lasers and Ecosmic are the two startups that Primo Space has chosen for its new investments, which amount to a total of 2.6 million euros. <\/strong><\/p>\n

Lithium Lasers<\/strong><\/h2>\n

Lithium Lasers was founded in 2019 with headquarters in Rovereto (TN) to develop a USPL (ultrashort pulse laser) called Femtoflash used for materials processing, biophotonics and non-linear optics for multiple industries such as aerospace, medical, automotive, particularly useful when levels of dimensional accuracy and tighter tolerances are required.<\/strong> Thanks to its ease of installation, FemtoFlash reduces integration costs for customers.<\/p>\n

In the aerospace industry, lasers are exceptionally effective for the production of microcomponents and are particularly used for marking components made of carbon fiber-reinforced polymer, a composite material widely used in aerospace applications.<\/p>\n

The USLP market is expected to grow at a CAGR of 14.1% until 2028, reaching a size of \u20ac3.9 billion. This steady growth is primarily driven by microelectronics manufacturing, which in turn is driven by mass-market demand for electronic devices.<\/p>\n

With \u20ac1.5 million allocated by Primo Space in a round of \u20ac2 million with the co-investment of 360 Capital, Lithium Lasers will start and accelerate the industrialization and commercialization process, as well as start planning a new line of UV lasers that will be launched in the coming years.<\/p>\n

Alessandro Greborio, CEO and co-founder of Lithium Lasers, commented in a note: “With the financial and strategic support of Primo Space and 360 Capital Partners, we are ready to accelerate the industrialization of our product and consolidate our position as a leading provider of laser solutions for the high-precision production of components used in various industrial sectors.<\/strong> The capital injection will support the rapid industrialization of Femtoflash, along with the development of a UV laser version to expand our capabilities on a higher range of materials. At the same time, we will create a high-performance laser processing platform to address the most complex manufacturing challenges. Our sincere thanks go to our legal advisor, Fabio Azzolina, and the BizPlace team for their invaluable assistance during the fundraising process.”<\/p>\n

“360 Capital’s continued involvement in Lithium Laser underscores the company’s significant strides in precision manufacturing technology. With each technical advancement, we affirm our dedication to driving industrial progress and investing in transformative solutions for the future,” comments Alessandro Zaccaria, partner at 360 Capital.<\/strong><\/p>\n

\"Aerospace

The Lithium Lasers Team<\/p><\/div>\n

Ecosmic<\/strong><\/h2>\n

Ecosmic was originally founded in 2023 by Benedetta Cattani, Gaia Roncalli and Imane Marouf space engineers in the Netherlands and is now headquartered in Turin. The team is developing a software solution to promote Space Situational Awareness (SSA) and collision avoidance called SAFE (system to avoid fatal events)<\/strong> which, thanks to proprietary algorithms, supports space mission operators in assessing orbital collision threats with greater accuracy and lower risk of overestimation, resulting in cost savings, and in identifying the best maneuvers to be performed to avoid collisions.<\/p>\n

Increasing regulatory pressure to improve the sustainability of space operations and the willingness of space operators to safeguard the lifecycle of their assets are significantly supporting the growth of the SSA products market, which is expected to grow at a CAGR of 4.4%, reaching a total value of \u20ac2.1 billion in 2030.<\/p>\n

With a focus on sustainability, SAFE helps minimize space debris, extend the life cycle of missions, and improve space safety by reducing the risk of collision.<\/p>\n

With \u20ac1.1 million in funding from Primo Space, Ecosmic will strengthen its team and develop SAFE 2.0, an updated version of the product that will allow satellite operators to tailor mission planning to specific contingencies, from collision avoidance maneuvers to anomaly detection, with a comprehensive satellite mission management tool.<\/p>\n

“At Ecosmic we are delighted to welcome Primo Space as our first investor. Their experience in the space industry is invaluable to our journey towards sustainable space operations. This investment comes at a pivotal time for Ecosmic, allowing us to scale our operations in Italy and successfully launch our flagship space traffic management product. In addition to advancing our mission, we are committed to developing an inclusive and opportunity-rich environment in the space sector. With the support of Primo Space, we intend to promote diversity and empower people from all backgrounds to contribute to our vision of a more sustainable use of the space environment,” say the co-founders. <\/strong><\/p>\n

This investment round brings Primo Space Fund’s portfolio to fourteen companies, re-confirming its contribution to building a European ecosystem for space technologies. “We are very pleased to announce these investments that promote sustainability in space, support an all-female founding team, promote cutting-edge technologies and bring talent and excellence back to Italy,” concludes the Primo Space team.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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