Axelspace advances earth observation services with fresh funding boost
In a significant development for the space industry, Axelspace Holdings Corporation has successfully completed its Series D funding round, raising approximately JPY 6.24 billion ($44 million). This latest financial milestone sees the addition of new shares to notable investors including SMBC-GB Growth I Investment Limited Partnership, alongside several other venture capitals and corporate investors. This funding round brings Axelspace’s cumulative equity financing to an impressive JPY 14.3 billion.
Enhancing Earth Observation Capabilities with New Funding
Axelspace Corporation, a wholly-owned subsidiary of Axelspace Holdings, plans to utilize the new funds to meet the evolving demands of its customers. The focus will be on enhancing Earth observation services through the expansion of its proprietary microsatellite constellation. Currently, the constellation comprises five satellites in operation. The investment will also support the full-scale development and operation of microsatellites for both public and private sectors, and the construction of optical data relay satellite constellations.
Japanese Firm Axelspace Holdings Secures Significant Investment for Satellite Constellation Growth
Axelspace’s Pioneering Journey in Microsatellite Technology
Established in 2008, Axelspace has made remarkable strides in the space industry, developing and operating a total of nine microsatellites, including a technology demonstration satellite for the Japan Aerospace Exploration Agency (JAXA). In addition to its Earth observation service “AxelGlobe,” which began in 2015, Axelspace is advancing its research and development efforts for “AxelLiner.” This innovative service aims to provide one-stop solutions for microsatellites, including feasibility studies, design, manufacturing, launch, and in-orbit operations. The demonstration satellite for AxelLiner is expected to launch in early 2024.
Realizing the Vision of ‘Space within Your Reach’
Yuya Nakamura, the President and CEO of Axelspace Holdings, expressed gratitude to the investors and highlighted the company’s journey, stating, “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.”
List of Series D Investors
The Series D investors include Sumitomo Mitsui Banking Corporation, Mitsui Fudosan Co., Ltd., YAMATO HOLDINGS CO., LTD., EPSON X Investment Corporation, Keio Innovation Initiative, Inc., Tokyo University of Science Innovation Capital, The Nanto Bank, Ltd., PERSOL VENTURE PARTNERS LLC, and THE SEIBU SHINKIN BANK.
With this substantial funding, Axelspace Holdings is poised to make significant advancements in the space industry, reinforcing its commitment to delivering innovative and accessible microsatellite solutions.