Japan-based micro-satellite manufacturer Axelspace has raised a ¥1.8bn ($15m) series A round featuring conglomerate Mitsui and broadcaster Sky Perfect Jsat, Tech in Asia reported earlier today.
SBI Investment, an investment vehicle of holding firm SBI, SMBC Venture Capital, the corporate venturing unit of financial services provider Sumitomo Mitsui, Seibu Shinkin Capital, the venture capital arm of bank Seibu Shinkin, and Japan Science and Technology Agency also took part in the round.
Founded in 2008, Axelspace builds small satellites (pictured), named Grus and weighing less than 80 kilograms, aimed at the agriculture and forestry, fishery and disaster monitoring sectors.
Grus contain telescopes capable of capturing images up to a resolution of 2.5 metres, and update data on a daily basis.
The funding will support the company’s plans to launch three satellites in 2017, having previously sent its first satellite into orbit in 2013.
Mitsui and Sky Perfect have entered into a collaboration agreement on top of their financial commitment, though no further details about that partnership have yet emerged.
– Image courtesy of Axelspace