Argotec lands €50M from Nuo to scale satellite production
What's the deal? Italian satellite maker ArgotecDealroom has a profile for this one. Try Dealroom → has raised €50 million (roughly $55.8 million) in growth equity from investment holding company NuoDealroom has a profile for this one. Try Dealroom →. It marks the first outside capital for the Turin-based company, which had funded its growth entirely on its own since 2008.
What's the company? Argotec develops and manufactures small satellites, with a track record that includes deep-space missions for NASADealroom has a profile for this one. Try Dealroom → and major contracts from the European Space AgencyDealroom has a profile for this one. Try Dealroom →. The company now employs 350 people and is hiring around 10 staff a week across its Turin and US offices.
Where's the money going? The funds will launch new services, strengthen Argotec's US headquarters, and expand production at its 12,000m² SpacePark factory near Turin. The site currently builds one satellite a week; Argotec wants to reach 80 a year.
By the numbers: Argotec closed last year with revenue of €57 million and expects to top €70 million this year, then exceed €100 million by 2027. "What matters is the bottom line, which has been in profit for some time now," said founder David Avino (translated from Italian).
Why now? "The market has changed radically; now we have to move fast," Avino said. He expects to close a much larger round — above €150 million — by the first quarter of 2027, funding organic growth and acquisitions.
What's the endgame? Argotec is building intelligent, cooperative satellites that can make decisions autonomously and process data in orbit. These would power constellations for meteorology, Earth observation, and surveillance across commercial, scientific, and defence uses.
The signal: The round sits in the top quartile by size for its category, a notable sum for a founder-funded company taking outside capital for the first time. Avino points to "significant market interest in the space sector as well as in defence-related applications," a demand wave Argotec is now racing to meet.
Read more: en.ilsole24ore.com
Image credit: Generated with Gemini
