Singapore-headquartered space technology firm Astroscale has secured $50 million in a Series D funding round led by Japan’s INCJ and joined by SBI Investment and Mitsubishi Estate.
According to a company statement, this brings the total capital raised by the startup to $102 million.
Astroscale, which has an R&D and manufacturing facility in Tokyo, has previously been backed by Japanese investors JAFCO, KOEI TECMO Capital, SBI AI & Blockchain Fund and SMBC Venture Capital.
Founded in 2013, Astroscale develops space debris removal solutions for long-term space flight safety. The firm notes that about 750,000 pieces of space debris are orbiting the Earth, threatening the safety of spacecraft.
Astroscale plans to use the proceeds to develop its first debris capture demonstration mission, scheduled for launch in early 2020. This involves the development of two spacecraft as well as technology, practices and standards to support in-orbit service activities.
“The recognition of how to address the threat of space debris has changed drastically in the five years since Astroscale was founded. Government officials and the private sector are now ready to support debris removal as a business. This latest round of funding represents a strong vote of confidence in Astroscale’s mission and will allow us to accelerate our position as the global market-leader in the field of debris removal,” said Astroscale CEO and founder Nobu Okada.
Astroscale joins a number of Singaporean space technology startups that have secured funding in recent weeks.
Last month, Gilmour Space raised $13.7 million in a Series B round led by Main Sequence and Blackbird. Singapore-based Transcelestial had also raised $1.83 million in a seed funding round led by Wavemaker Partners and SEED Capital.