Axelspace Successfully Obtains $44 Million Investment
Axelspace Holdings recently wrapped up its Series D funding round, raising around JPY 6.24 billion (approximately USD $44 million). This funding round saw the issuance of new shares to several prominent investors, including SMBC-GB Growth I Investment Limited Partnership, various venture capital firms, and corporate investors. With this latest round, the company has now secured a total of JPY 14.3 billion in equity financing.
The recent influx of funds will be strategically allocated within Axelspace Corporation, a wholly owned subsidiary of Axelspace Holdings, to address a broader range of customer needs. A primary focus will be enhancing the company’s Earth observation services by expanding its proprietary microsatellite constellation.
Currently operating five satellites, Axelspace aims to offer a wide array of services, including microsatellite development and operations for both the public and private sectors. Additionally, the funds will support the construction of optical data relay satellite constellations.
Founded in 2008, Axelspace boasts a 15-year track record in developing and operating nine microsatellites, including a technology demonstration satellite built for the Japan Aerospace Exploration Agency (JAXA), underscoring the company’s expertise in the field.
Alongside its established Earth observation service, “AxelGlobe,” launched in 2015, Axelspace is advancing its research and development efforts to bring its innovative end-to-end service, “AxelLiner,” to fruition. Announced in 2022, AxelLiner will provide a comprehensive suite of services, from feasibility studies and design to manufacturing, launch, and in-orbit operations for microsatellites. The company plans to launch its AxelLiner demonstration satellite in early 2024, marking a significant step forward in its service offerings and capabilities.
