Axelspace Holdings recently announced that the company completed its Series D funding round, raising approximately JPY 6.24 billion (equivalent to $44 million). This funding round sees the allocation of new shares to SMBC-GB Growth I Investment Limited Partnership, several venture capital firms, and corporate investors. This funding round brings the cumulative amount of equity financing to approximately JPY 14.3 billion.
Axelspace Corporation (a wholly owned subsidiary of Axelspace Holdings) will use the new funds to meet more diverse customer demands. This involves enhancing the company’s Earth observation services through the expansion of our proprietary microsatellite constellation, which currently consists of five satellites under operation, providing full-scale services of microsatellite development and operation to both public and private sectors, and constructing optical data relay satellite constellations.
This is a list of the Series D investors:
- Sumitomo Mitsui Banking Corporation / SMBC Venture Capital Management Co., Ltd. / Global Brain Corporation (SMBC-GB Growth I Investment Limited Partnership)
- Mitsui Fudosan Co., Ltd. / Global Brain Corporation (31VENTURES – Global Brain – Growth I Project)
- YAMATO HOLDINGS CO., LTD. / Global Brain Corporation (KURONEKO Innovation Fund)
- EPSON X Investment Corporation / Global Brain Corporation (EP-GB L.P.)
- Keio Innovation Initiative, Inc. (KII3, LPS)
- Tokyo University of Science Innovation Capital (TUSIC Investment Limited Partnership)
- The Nanto Bank, Ltd. / Nanto Capital Partners. Inc. (Nanto CVC No. 3 Akebono Investment Limited Partnership)
- PERSOL VENTURE PARTNERS LLC
- THE SEIBU SHINKIN BANK / The Seibu Shinkin Capital, Inc. (Seibu Shinkin Capital Corporate Investment No. 3 Limited Partnership)
Over the 15 years since its establishment in 2008, Axelspace has demonstrated a proven track record in developing and operating nine microsatellites, including a technology demonstration satellite for the Japan Aerospace Exploration Agency (JAXA).
Along with the Earth observation service “AxelGlobe” – which started in 2015, Axelspace has been progressing its research and development to realize an innovative one-stop service, “AxelLiner.” This service was announced in 2022, aiming to offer feasibility studies, designing, manufacturing, launch, and in-orbit operations for microsatellites, and its demonstration satellite is expected to launch in early 2024.
The company will continue to work toward realizing its vision of “Space within Your Reach” by accelerating societal applications of microsatellites.
KEY QUOTES:
“We would like to express our gratitude to the investors who, despite challenging market conditions, have decided to invest in us, demonstrating confidence in our future business growth.”
“This August, we celebrated the company’s 15th anniversary. Although it was not an easy road, we have steadily accumulated achievements and evolved our business with invaluable assistance from many people.
“With this financing, we hope to further solidify the business foundations of both AxelGlobe and AxelLiner services and to establish ourselves as a leading player in providing comprehensive microsatellite solutions.”
- Yuya Nakamura, the President and CEO of Axelspace Holdings
