Charter Space closed an oversubscribed $5 million seed funding round as the company expands its insurance platform for the growing commercial space economy. The round was led by Crystal Venture Partners, with participation from QED, Blank Ventures, Gaingels, Hustle Fund, and other fintech and space-focused investors.
The financing brings Charter Space’s total funding to $8 million, following a previous $3 million pre-seed round.
Charter Space describes itself as an AI-native economic defense company focused on insuring the space economy.
The company said it has experienced significant growth, including technology pilots with space companies and research organizations.
In May 2026, Charter Space launched its nationally licensed insurance brokerage, Charter Interplanetary Risk Corporation.
The brokerage is already serving more than 50 companies across the U.S. space and defense industrial base.
Charter Space helps clients secure insurance across commercial business lines as well as specialty coverage for space assets.
The company said it has built a backlog representing more than $35 million in gross written premiums.
Charter Space plans to use the new funding to expand distribution, grow its sales organization, and scale its insurance product suite.
The company is particularly focused on specialty space insurance for newer mission concepts, including in-space servicing, space-based nuclear power, and lunar in-space resource utilization.
Its coverage strategy spans multiple mission phases, including pre-launch transport and testing, launch, and post-separation operations.
Charter Space said its goal is to provide clients with end-to-end coverage while expanding insurance capacity for companies developing increasingly complex space technologies.
The company sees insurance as a critical part of the financial infrastructure required to support greater investment and risk-taking across the space economy.
KEY QUOTES:
“America has led the world in space exploration and innovation, and we believe American companies should continue to be the backbone of the next generation of the space economy. Charter Space is proud to build the financial infrastructure needed to make that possible. As we launch more hardware into orbit and beyond to supply our growing reliance on space-based services, we need a strong, competitive insurance market that gives American innovators the confidence to take risks, grow, and lead. This investment will allow us to underwrite and scale that infrastructure, encourage more capital to invest in the market, and help ensure that the future of the space economy is built here in the United States.”
Yuk Chi Chan, Co-Founder and CEO of Charter Space
“Florida’s Space Coast is leading the way in America’s growing space industry, and companies like Charter Space are helping make that growth possible. Strong insurance options give American space companies the confidence to invest, grow, and take on new challenges. I’m excited to see private investment supporting this important industry and helping America remain the world leader in space.”
Congressman Mike Haridopolos (FL-08)
“It is great to see venture capital is catching up to what this industry already knows: insurance is the precondition for growth in space. The state that leads on insurance will be the destination for capital investing in the industries of the future, and lay the foundation for continued American greatness for the next 250 years and beyond.”
Michael Yaworsky, Florida Commissioner of Insurance Regulation
“Charter Space sits at the intersection of two enormous opportunities: the rapid growth of the commercial space economy and the need for a modern approach to understanding and insuring the increasingly complex risks that accompany that growth. Insurance is critical infrastructure for a strong and sustainable space industry, and we believe Charter Space is building the platform that will help the space economy scale safely and sustainably. The team at Charter Space have built an impressive business with tremendous growth potential, and we’re excited to partner with them as they enter this next phase.”
Jonathan Crystal, Managing Partner of Crystal Venture Partners
