TerraSpark, a space-based solar energy solutions provider, has secured €5 million (~$5.7 million) in a funding round led by Daphni, Sake Bosch, the investor alliance better ventures, the Hans(wo)men Group, the Luxembourg Business Angel Network, and Karaoke Club.
The company is said to be developing space-based solar energy with the long-term goal of making energy available regardless of the time of day.
Solar energy is collected in orbit and transmitted to Earth as low-density radio waves via a precisely directed beam. These signals are received by rectennas, specialized antennas that convert radio waves into electrical power, which can then be used to supply continuous energy regardless of day or night.
Instead of beginning with large orbital systems, TerraSpark is focusing on the commercialization of radio frequency-based wireless energy transmission for industrial applications. The funding will support further technology development and facilitate initial pilot projects and live tests.
“The physics behind radio frequency-based energy transfer has been validated for decades. Programs such as Solaris have laid the groundwork in Europe. The challenge today lies in the engineering discipline: building systems that scale safely and reliably. That is precisely where our focus lies,” says Sanjay Vijendran, founder and Chief Technology Officer of TerraSpark and former program manager for space-based solar energy research at ESA.
In the coming months, TerraSpark plans to prepare its first pilot applications and demonstration use cases, including wireless power supply for a live event. An orbital technology demonstrator is also planned for 2027. The company is also laying the groundwork for its first space-to-Earth power transmission, planned for 2028.
According to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report, Global VC and private equity funding in the solar sector in 2025 totaled $3.5 billion across 75 deals, 22% lower than the $4.5 billion raised in 60 deals in 2024. There were eight VC funding deals of $100 million or more in 2025.
In December 2025, Sun King, an off-grid solar energy company, raised $40 million in equity financing from Lightrock, a global sustainable investment platform. The funding is expected to support Sun King’s expansion of decentralized solar energy systems across Africa and Asia and advance the development of new products for underserved households and businesses in these regions.
