Solestial, a space solar startup based in Arizona, has raised $17 million in Series A funding to expand its solar panel production. The round was led by AE Ventures and included new investors such as Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric’s ME Innovation Fund, managed by Global Brain.
Existing backers like Airbus Ventures, General Purpose VC, Industrious Ventures, Stellar Ventures, and Techstars also joined the round.
With this funding, Solestial plans to increase its silicon photovoltaic output to 1 megawatt per year. That’s roughly equal to the total yearly output of all U.S. and European III-V space solar companies combined. This scale-up marks a major milestone in the company’s journey to make solar energy more accessible in space.
Alongside the funding news, Solestial also announced a leadership change. Margo de Naray has stepped in as the new CEO. She was previously a Senior VP at Astra, where she led space products and services. De Naray brings over 20 years of experience in high-tech operations and growth leadership.
Founding CEO Stanislau Herasimenka will now serve as Chief Technology Officer. In his new role, he’ll focus on product innovation and building out the company’s tech stack.
Solestial builds lightweight, low-cost solar panels designed for satellites and spacecraft. Unlike traditional systems, their panels offer reduced mass without sacrificing power. This makes it easier and cheaper to launch and operate space missions.
Since opening its factory in Tempe, Arizona in 2023, Solestial has expanded every year. It has more than doubled its workforce and delivered products to dozens of commercial space customers. The new capital will support continued growth and allow Solestial to meet rising demand from satellite builders.
With the new leadership and production goals in place, Solestial is positioning itself as a key energy supplier for the next wave of space infrastructure.
