Tokyo-based defense and space startup Astroscale has raises USD 76 million in Series G funding

27 February 2023, TOKYO  — The market leader in satellite maintenance and long-term sustainability across all orbits, Astroscale Holdings Inc. (“Astroscale”), has completed a Series G round of financing with more than US USD 76 million from new investors, including Mitsubishi Electric, Yusaku Maezawa, Mitsubishi UFJ Bank, Mitsubishi Corporation, Development Bank of Japan, and FEL Corporation.

Since its founding, Astroscale has raised a total of about USD 376 million in the United States; this round’s closing shows that, despite the challenging global economic environment, investors have a strong level of confidence in the company’s stability, success, and market leadership in the on-orbit services industry.

Nobu Okada, founder and CEO of Astroscale stated, “We are thrilled with the engagement we got from our investors, which indicates a vote of confidence in Astroscale’s vision and potential. “The foundation for a thriving and sustainable space economy is on-orbit servicing, which is also the way to lower risk and boost profits for satellite operators. These funding will greatly help to continue innovative technological development, worldwide growth, and greater capacity to satisfy the rising demand. Our goal is to make on-orbit servicing normal by 2030.”

More than ever, the world economy depends on satellite services, and this reliance is only growing. Everyday users of these services are at risk due to the exponential growth in the number of space debris particles in low-Earth orbit. Astroscale has pioneered on-orbit services such as satellite life extension, active debris removal, and end-of-life removal due to these dangers and the lost value and potential associated with single-use space activities.

End of Life Services by Astroscale-demonstration (ELSA-d), a primary mission, achieved a first for a commercially supported task in LEO by successfully demonstrating several essential technologies needed to clean up space trash in 2021 and 2022.

Astroscale is growing its personnel and opening new facilities in the UK, the U.S., and Israel to enhance its services and satisfy rising client demand. A global headquarters building is also slated to open in Tokyo later this year. With its most recent investment round in November 2021, Astroscale has successfully lured top talent worldwide, and its global team has increased by 63% to over 400 individuals.

To develop sustainable space systems and lessen the dangerous accumulation of debris in space, Astroscale, a company founded in 2013, is developing novel and scalable solutions across the spectrum of on-orbit servicing, including life extension, in situ space situational awareness, end-of-life, and active debris removal. Moreover, Astroscale is developing business cases and collaborating with public and private sector players to create standards, guidelines, and incentives for the ethical use of space.

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