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Swiss startup PAVE Space has raised $40 million in a seed funding round to bring a new line of in-space propulsion systems and advanced orbital capabilities to market. This is a significant step for the young company, founded in 2024, and marks a major increase from its previous funding of only around $2 million.
According to Payload Space, the startup is focused on solving the challenges of in-space movement and maneuverability, aiming to make access to higher orbits faster, cheaper, and more dynamic for a wide range of satellites and platforms.
The capital raised will be used to support a busy schedule of technological tests and demonstrations over the coming year, with the goal of accelerating development and reaching the commercial stage as quickly as possible.
At the core of the company’s technology is the use of a storable rocket bipropellant, designed to make launch and in-space operations simpler and more cost-effective compared to complex cryogenic fuels. Based on this propellant, the firm is developing two main product families. The first product, LYOBA, is a 45 kN kick-stage engine capable of moving spacecraft from Low Earth Orbit (LEO) to higher orbits such as MEO, GEO, or cislunar trajectories in under 24 hours. This architecture can reduce the cost of reaching higher orbits by up to 40%.
The second product, IBEX, is a platform weighing approximately 200 kg, designed for highly dynamic on-orbit operations and intended for dual-use purposes. For defense customers, the platform can serve as a kind of “police car” in orbit, allowing operators to maneuver quickly to observe other satellites or to rapidly evade potential threats. This capability addresses a growing need for operational flexibility and rapid response in the increasingly crowded and complex space environment.
With the new funding, the startup plans to conduct a hotfire test of its engine before the end of the year and demonstrate its avionics system in space on a SpaceX rideshare mission in October. Additionally, the company intends to complete the qualification of its in-space mobility platform, progress towards a first launch next year, open a new office in the European Union, and hire additional propulsion and avionics engineers, mission designers, and commercial team members.
