Axelspace Holdings Corporation, a player in Japan’s microsatellite industry, announced the successful completion of its Series D funding round, amassing approximately ¥6.24 billion (about $44 million).
This funding round welcomed new shares allocation to several entities including SMBC-GB Growth I Investment Limited Partnership, along with other venture capitals and corporate investors, bringing the total equity financing to around ¥14.3 billion.
The company’s subsidiary, Axelspace Corporation, plans to utilize these funds to broaden its Earth observation services. This expansion includes enhancing its microsatellite constellation, which currently boasts five operational satellites.
The focus is on meeting diverse customer needs by offering full-scale microsatellite development and operation services across public and private sectors, and constructing optical data relay satellite constellations.
Series D investors include prominent names like Sumitomo Mitsui Banking Corporation, Mitsui Fudosan Co Ltd, Yamato Holdings Co Ltd, and EPSON X Investment Corporation, among others. These investors have shown confidence in Axelspace’s potential and capabilities in the space industry.
Since its inception in 2008, Axelspace has developed and operated nine microsatellites, including a technology demonstration satellite for JAXA. The company has been advancing its Earth observation service “AxelGlobe” since 2015 and introduced “AxelLiner” in 2022.
This innovative service covers the entire lifecycle of microsatellites, from feasibility studies to in-orbit operations, with its demonstration satellite expected to launch in early 2024.
Yuya Nakamura, President and CEO of Axelspace Holdings, expressed gratitude to the investors for their confidence in the company’s growth, especially during challenging market conditions. Celebrating their 15th anniversary, Nakamura reflected on the company’s journey, emphasizing their evolution and achievements with support from various stakeholders.
With this new funding, Axelspace aims to strengthen its AxelGlobe and AxelLiner services and establish itself as a leader in comprehensive microsatellite solutions.