Axelspace Holdings, an Earth Observation and microsatellite specialist, has completed a ¥6.24 billion Series D funding round, equivalent to $44.0 million.

Earth Observation microsatellite business raises $44m Series D

Bringing the cumulative amount of equity financing to approximately ¥14.3 billion, the latest investments came from SMBC-GB Growth I Investment Limited Partnership, 31VENTURES, KURONEKO Innovation Fund and other venture capital and corporate investors.

AxelSpace-EO-298x300.jpgAxelspace says the funding will be used to develop its AxelGlobe services – which provides Earth imagery – and its AxelLiner offering – which produces microsatellites for third-parties.

For the latter, described as a “one-stop service”, AxelSpace provides feasibility studies, design, manufacturing, launch, and in-orbit operations for microsatellites. A demonstration satellite is expected to launch early this year.

 

Microsatellite
Founded in in 2008, the Tokyo-based company has been involved in the development and operation of nine satellites, including a technology demonstration microsatellite for JAXA (the Japan Aerospace Exploration Agency).

AxelSpace-Yuya-Nakamura-240x300.jpg“This August, we celebrated the company’s 15th anniversary,” said Yuya Nakamura, the President and CEO of Axelspace Holdings, pictured. “Although it was not an easy road, we have steadily accumulated achievements and evolved our business with invaluable assistance from many people.”

“With this financing, we hope to further solidify the business foundations of both AxelGlobe and AxelLiner services and to establish ourselves as a leading player in providing comprehensive microsatellite solutions.”

The company’s own constellation currently consists of five satellites under operation.

“We have decided to invest in the space industry, a new growth engine for Japan, and specifically in Axelspace,” said Jun Takahashi, President of the lead investor SMBC Venture Capital Management.

“We are impressed by its achievement in pioneering the space industry and hold high expectations for their future global contributions as a satellite manufacturer and a data service provider.”