<article>Axelspace, a Japanese company that offers microsatellite technology solutions, has raised a $22.8-million Series B funding round led by <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/31ventures/">31VENTURES</a>.</article>

Axelspace, a Japanese company that offers microsatellite technology solutions, has raised a $22.8-million Series B funding round led by <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/31ventures/">31VENTURES</a>.
31VENTURES, which was launched in 2016 with a maiden JPY5 billion ($44.2 million) fund, is a joint venture of <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/global-brain/">Global Brain Corporation</a> and Mitsui Fudosan.
Other investors participating in the round included Innovation Network Corporation of Japan, SBI Investment, Innovation Platform for The University of Tokyo and Dai-ichi Life Insurance.
Axelspace said the investment will help it move closer to the realisation of its earth-observation infrastructure called AxelGlobe, and resume the launch of a GRUS satellite which it had postponed in 2017.
The final preparations are ongoing for the launch on December 27.
Axelspace will develop two additional GRUS satellites for launch in 2020, aiming at more frequent captures of earth imagery.
“To tap into this valuable new resource, we are preparing to begin large-scale collaboration with Mitsui Fudosan, also one of the lead investors,” it said.
Founded in 2008, Axelspace launched the world’s first commercial microsatellite, WNISAT-1, in 2013. It raised a JPY30-million seed round in 2014 before a JPY1.9-billion Series A round in 2015 along with the announcement of its microsatellite constellation project AxelGlobe.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/future-fund-rocket-lab-111300/">Australia’s Future Fund leads $140m funding round for US-based Rocket Lab</a>

31VENTURES is a joint venture of Global Brain Corporation and Mitsui Fudosan.

Japan's microsatellite firm Axelspace bags $22.8m from 31VENTURES, others

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Japan's microsatellite firm Axelspace bags $22.8m from 31VENTURES, others

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief