ispace Raises $46M for Moon Missions

Ispace Secures $46 Million in Series C Funding for Lunar Missions

Japanese aerospace startup ispace has successfully secured $46 million in a new Series C funding round. This capital injection will facilitate the completion of three planned lunar lander missions within a three-year timeframe.

Funding Allocation and Mission Timeline

The newly acquired funds are earmarked for the second and third lunar missions, currently scheduled for launch in 2023 and 2024, respectively. The initial mission, anticipated in the latter half of 2022, is already being supported by previously obtained funding.

Investment Details

This Series C funding round was spearheaded by Incubate Fund, a prominent Japanese venture capital firm. Additional investment was provided by Innovation Engine-managed partnerships, SBI Investment Co.-managed funds, Katsunori Sago, Aizawa Investments, and funds overseen by HiJoJo Partners and Aizawa Asset Management. Incubate Fund’s support for ispace dates back to the company’s seed funding stage in 2014.

With this latest round, ispace’s total funding now amounts to $195.5 million.

Hakuto-R Mission Details

Last month, ispace announced the commencement of construction for the lunar landing flight module intended for the 2022 mission. This construction is taking place at a facility owned by ArianeGroup, located in Lampoldshausen, Germany.

The Hakuto-R lander, designated for the first mission, will undertake a three-month journey to the moon. This extended travel time is strategically implemented to minimize costs and reduce the weight associated with propellant.

The lander will carry a 22-pound rover developed by the Mohammed bin Rashid Space Center of the United Arab Emirates. It will also transport a lunar robot for the Japan Aerospace Exploration Agency, alongside payloads from three Canadian companies. A SpaceX Falcon 9 rocket will be utilized for the lunar transfer.

Future Missions and Lander Development

The 7.5-foot-tall Hakuto-R lander is also slated for use in the 2023 mission. Its purpose will be to deploy a small ispace rover, designed to gather data crucial for supporting the company’s subsequent lunar endeavors.

For the final mission, the Tokyo-based startup is currently developing a larger lander within the United States.

Long-Term Vision

Ispace envisions itself as a crucial “gateway” enabling private sector companies to establish a commercial presence on the Moon. The company is particularly focused on fostering a space-based economy, emphasizing the significant potential of the Moon’s water resources.

Note: A correction has been made to clarify that the Mohammed bin Rashid Space Center is located in the United Arab Emirates, not Saudi Arabia.