SAN FRANCISCO – Axelspace, the Japanese firm planning to offer daily global optical imagery, raised 2.58 billion Japanese yen ($23.8 million) in a Series C investment round announced May 14 in Tokyo, May 13 in the United States.
The Space Frontier Fund managed by Sparx Innovation for Future Co. provided funding alongside other venture capital firms and investment funds managed by Global Brain Corp., Japan Post Investment Corp., Kyocera Corp., Mitsubishi UFJ Capital Co. Ltd., Mitsui Fudosan Co. Ltd. and Sumitomo Mitsui Trust Investment Co. Ltd.
Axelspace launched its first 100-kilogram satellite in 2018 and raised $22.8 million in a Series B funding round. The company sent four more satellites into sun-synchronous orbit in March.
With funds from the Series C round, Axelspace will manufacture, launch and begin operating five additional satellites in 2023, Axelspace CEO Yuya Nakamura told SpaceNews. With a ten-satellite constellation, Axelspace will have ...
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Axelspace raises $24 million in Series C round
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