2 Luxembourg Startups Raise €4.6 m in Space Manufacturing, Sustainable Investing

Space Product and Innovation (SPiN) recently closed a €1.63 million seed funding round, led by Galaxia and Obloo Ventures, among others. The Technoport-based spacetech, with operations in Italy, Luxembourg, the UK and the US, announced it plans to use the funds to advance its modular space manufacturing solutions and expand its team. Known for its plug-and-play approach, SPiN aims to make space manufacturing more affordable, reducing design costs by up to 50% and production costs by 30%. The company aims to support satellite manufacturers to allocate resources efficiently. SPiN, incubated at Technoport since 2022, is set to increase its Luxembourg team and relocate its headquarters to Italy for scaling, intensified R&D efforts, and exploring commercial opportunities. Since launching in 2015, the startup has joined the European Space Agency Business Incubation Center, was selected as one of the Top 500 Companies for Hello Tomorrow in 2019, and launched its first satellite in 2022.

“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,” said SPiN CEO, Ran Qedar.

In a separate development, Moniflo, founded by Georges Bock (former Managing Partner at KPMG Luxembourg), successfully raised €3 million, primarily from existing investors. The values-based investment platform, with a focus on making values-based investing accessible to the masses, plans to use the capital to accelerate product development, open to a broader user base in Luxembourg in the coming weeks and expand into Germany by the end of February. Moniflo, equipped with the CSSF Investment Firm License and a Sustainable Advisory Board, aims to simplify access to values-based investing. The platform incorporates ESG criteria into investment decisions, allowing users to align their investments with their values. With a pan-European expansion on the horizon, Moniflo also aims to continue product development, aiming to create an investment app that blends consumer friendliness with AI-driven customer support tools.

“By integrating environmental, social, and governance into investment decisions, we can direct capital towards initiatives that not only generate financial returns but also contribute positively to societal and environmental well-being. Our platform for values-based investing, contributes to democratising access to sustainable finance, making it inclusive and transparent,” said Martin Vogel, Investor, and Member of Moniflo’s Board.