PAVE Space, a Swiss startup originating from EPFL's student rocketry program (which developed Europe's first student-made reusable rocket), has announced raising $40 million. This represents one of the largest seed rounds ever in the European space sector.

The funding was led by Visionaries Club and Creandum, with participation from Lombard Odier, Atlantic Labs, and Sistafund. PAVE Space's primary goal is to address the structural inefficiencies in the satellite lifecycle, starting from the moment launch vehicles release payloads.

PAVE Space intends to use the funds to develop orbital transfer vehicles, designed to optimize the positioning and management of satellites in orbit.