SG space tech firm Astroscale secures $50m Series D funding from Japanese investors

Astroscale's ELSA-d.

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.

Also Read:

SG’s Transcelestial raises $1.8m seed funding co-led by Wavemaker and SEED Capital

Australia & Singapore-based Gilmour Space raises $13.7m Series B led by Main Sequence, Blackbird

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.