Japanese space startup Astroscale raises $109m in Series F funding round

Photo: Astroscale

Japanese space startup Astroscale Holdings Inc. (Astroscale) has raised $109 million in a new Series F round of financing, bringing the company’s total funding raised to date to $300 million, according to the company’s announcement.

The funding round was led by THE FUND Limited Partnership in Japan, with participation from international investors including Seraphim Space Investment Trust plc in the United Kingdom and DNCA Invest Beyond Global Leaders.

AXA Life Insurance, Seraphim Space Investment Trust plc, IE FAST and EXCELLENT Investment Limited Partnership also joined the round. 

This round will allow Astroscale to pioneer safe and cost-effective space capabilities across the servicing ecosystem, expand regional facilities for mass production in Japan, the UK, and the US, and support global growth.

Astroscale founder and CEO Nobu Okada said, “this latest round of funding will dramatically accelerate our ability to make on-orbit servicing routine by 2030.”

Astroscale last raised $51 million in a Series E funding round in October 2020, the same year in which it acquired Effective Space Solutions, a company focused on servicing the large geostationary satellites that provide some key communications infrastructure on Earth. The startup had raised $50 million Series D in 2018.

The company claims that it has increased its global team by more than 60% and now boasts approximately 250 team members around the globe.

In October, Japanese venture capital firm aStart Co Ltd had raised 3.8 billion yen ($36 million) for its second fund that will focus on space technology.

In May, Axelspace, one of Japan’s pioneers in microsatellite technology, announced raising $24 million in a Series C funding round from a slew of local venture investors.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.