Astroscale, a Japan-headquartered developer of space debris removal technology, closed a series E round featuring real estate developer Hulic, data centre operator I-Net and construction firm Shimizu at $51m yesterday.
The round was led by investment firm aStart and included Sparx Space Frontier Fund, a vehicle for asset manager Sparx subsidiary Sparx Innovation for Future. I-Net provided its share in May this year, and Astroscale said its overall funding has reached $191m.
Founded in 2013, Astroscale is working on end-of-life services that will facilitate the removal of satellites that no longer function from the Earth’s orbit, as well as active debris removal technology that will help eliminate space debris and life extension services to prolong the life of satellites.
The funding will go toward expanding Astroscale’s technology repertory, identifying target business cases and collaborating with legislators to carry out space debris mitigation.
Astroscale closed a series D round backed by game publisher Koei Tecmo’s corporate venturing subsidiary, Koei Tecmo Capital, and real estate developer Mitsubishi Estate at $80m in April 2019.
The round included financial services groups Mizuho Bank, SBI Holdings and Sumitomo Mitsui Banking Corporation, through Mizuho Growth Fund, SBI AI & Blockchain Fund and SMBC Venture Capital respectively, as well as Innovation Network Corporation of Japan (INCJ), Jafco and its Jafco SV4 Investment vehicle, Sumitomo Mitsui Trust Investment, aStart, UTokyo Innovation Platform and Joe Hirao.
Airline operator ANA Holdings and industrial machinery maker OSG Corporation had invested in a $25m series C round for the company in 2017 that featured financial services firm Mitsubishi UFJ subsidiary Mitsubishi UFJ Capital, aStart, INCJ and Jafco.
Jafco and INCJ participated in a $35m series B round the year before that came after Jafco, startup hub Misteltoe and multiple angel investors had backed the company’s $7.7m series A in 2015.
