Swiss Startup Aims for Lunar Cargo in Hours

Swiss startup Pave Space has secured $40 million in seed funding to develop hardware capable of moving satellites and cargo to different orbits. This initiative aims to bolster Europe's independent access to space.

Investors Visionaries Club GmbH and Creandum AB led the funding round, with participation from Lombard Odier Investment Managers and Atlantic Labs. Pave is developing spacecraft, often referred to as 'space tugs,' designed to transport satellites from low-Earth orbit to destinations like lunar flight paths in under 24 hours.

Founded in 2024, the company plans to complete its propulsion system by the third quarter of this year. A demonstration mission is scheduled for launch in October aboard a SpaceX rocket. CEO Julie Böhning highlighted the importance of Europe developing its own space capabilities amidst evolving geopolitical dynamics.

Pave has already secured eight agreements with satellite operators and manufacturers, indicating strong market interest in their proposed services.