Astroscale Secures $109M Funding for On-Orbit Services

Astroscale Secures $109 Million in Series F Funding

Astroscale, a pioneering space company based in Japan, has successfully closed a $109 million Series F funding round. This investment elevates the company’s cumulative funding to $300 million, demonstrating strong investor confidence.

Focus on On-Orbit Servicing

The company’s core expertise lies in on-orbit servicing technology. This technology is crucial for mitigating the growing problem of space debris and enhancing the longevity of currently operational satellites.

By extending satellite lifespans, Astroscale aims to foster greater sustainability within the orbital business sector.

Investment Details and Future Plans

This latest funding round was spearheaded by THE FUND of Japan, with significant contributions from investors such as Seraphim Space.

According to Nobu Okada, CEO and founder of Astroscale, the newly acquired capital will be instrumental in scaling operations. The company intends to significantly expedite its progress towards establishing routine on-orbit servicing capabilities by the year 2030.

Recent Achievements and Upcoming Missions

2021 has proven to be a landmark year for Astroscale. A successful technology demonstration of its end-of-life services product was completed in August.

A second phase of this mission is scheduled for completion before the end of the year. Furthermore, the company is actively preparing for a mission with the Japan Aerospace Exploration Agency (JAXA), focused on demonstrating orbital debris removal, planned for early in the coming year.

Strategic Acquisition

Astroscale previously secured $51 million in funding in October 2020. That same year, the company strategically acquired Effective Space Solutions.

Effective Space Solutions specializes in servicing large geostationary satellites, which are vital components of global communications infrastructure.