Turin-based Kurs Orbital has secured a €1.1 million soft loan to continue the development of its universal rendezvous and proximity operations module.
Kurs Orbital was founded in 2021 by the former director of Ukraine’s space agency, Volodymyr Usov. After Russia invaded Ukraine in 2022, the company relocated to Turin, Italy. The company is currently developing its ARCap system, a rendezvous and proximity operations module that can be integrated with a wide range of vehicles, including satellites, orbital transfer vehicles, and even cargo or crew spacecraft. Possible applications for the technology include satellite life extension missions, in-orbit servicing, and space debris removal.
On 30 December, the company announced that it had secured a €1.1 million soft loan from Italy’s National Agency for Investment Attraction and Business Development (Invitalia). A soft loan provides the borrower with more favourable terms than traditional lenders typically offer. The loan was awarded through the agency’s Smart&Start programme, which focuses on supporting the growth of innovative startups by providing financing of between €100,000 and €1.5 million.
“We couldn’t have asked for a better conclusion to this year,” said Kurs Orbital CEO Volodymyr Usov. “The Smart&Start programme will provide essential resources to accelerate the activities around our ARCap module. New people and new equipment will make us bigger, stronger, and closer to orbit.”
Earlier this year, following the announcement of the company’s €3.7 million seed funding round, Usov projected that the first flight-ready ARCap module would be completed by late 2025. The company has stated that it already has several agreements with space logistics companies, including D-Orbit, Clearspace, and Thales Alenia.
