Gitai, a Japanese space-tech startup, announced the raising of USD 17.1 million early in March 2021 in its Series B round. The round witnessed major participation from SPARX Innovation for the Future co. ltd.
Investors: Founded in April 2020, SPARX Innovation for the Future co. ltd is a subsidiary of SPARX Group. It functions as the venture investment arm of SPARX Group. It was established with the primary aim of making effective investments in the space domain and it manages the Space Foundation Fund that has raised around ¥8.2B to date.
The round also saw participation from DCI Venture Growth Fund, the Dai-ichi Life Insurance Company, and EP-GB.
The new round of investment would be utilized for increasing the headcount and executing an on-orbit demonstration mission for the company’s robotic technology.
About Gitai:
Founded in 2016 by Sho Nakanose, Gitai is a robotic startup established specifically for space development. The company essentially seeks to replace astronauts with robots that can be remotely controlled from Earth while on low-Earth orbits. By doing so, the company seeks to minimize the burden on astronauts, expedite the completion of space works and most importantly reduce costs. The said robots are also posited to be used for operations on the Moon and Mars, and for the construction of space colonies.
The latest round of funding brings the cumulative amount of funds raised by Gitai to around USD 22.6 million.
What the CEO has to say:
“We are proceeding well in the Japanese market, and we’ve already contracted missions from Japanese companies, but we haven’t expanded to the U.S. market yet. So we would like to get missions from U.S. commercial space companies, as a subcontractor first. We’re especially interested in on-orbit servicing, and we would like to provide general-purpose robotic solutions for an orbital service provider in the U.S.”–Sho Nakanose, founder and CEO of Gitai.
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