Success for I3P and the ESA BIC Turin program: a startup raises two million euros

Italian space tech company Astradyne has closed a €2 million seed investment round to accelerate the development of Solar-Z, its innovative ultralight solar panel designed for space applications.

Founded in 2021 in Bari, Italy, Astradyne develops next-generation photovoltaic solutions designed for the New Space Economy, with the aim of making satellite power systems lighter, more compact, and more efficient – significantly reducing launch costs and increasing in-orbit performance.

Astradyne has completed its incubation path in I3P, the Innovative Companies Incubator of Politecnico di Torino, and in the ESA BIC Turin incubation program, run by I3P in collaboration with the European Space Agency (ESA), the Italian Space Agency (ASI), Politecnico di Torino and LINKS Foundation.

The round was led by Primo Capital through the Primo Space fund, the first VC vehicle entirely dedicated to the Space Economy in the European Union. The round also saw participation from Galaxia, the Italian National Technology Transfer Hub for Aerospace, launched by CDP Venture Capital’s Technology Transfer Fund together with Obloo Ventures (already an investor in the pre-seed round), Eureka! Fund I – Technology Transfer, and the Puglia co-investment fund, both managed by Eureka! Venture SGR.  

With this investment, Astradyne aims to reach Technology Readiness Level (TRL) 9 for Solar-Z, complete in-orbit testing onboard Low Earth Orbit (LEO) satellites and establish agreements with satellite integrators and manufacturers. 

In parallel, the company is developing a complementary product line, Solar-Y, for advanced terrestrial applications – from construction to agriculture to mobile energy systems – adapting space-designed solutions to new needs on Earth, with the goal of rethinking how we generate energy in dynamic contexts.

“The incubation period for highly innovative startups at I3P and ESA BIC Turin confirms its status as a valuable stepping stone for the companies of the future,” emphasizes Professor Giuliana Mattiazzo, Vice Rector for Scientific and Technological Innovation at PoliTO. “This is true in particular in strategic sectors such as Aerospace, in which PoliTO continues to invest resources and expertise to create an innovation ecosystem in Turin, playing a leading role in Space Economy.”