Axelspace Holdings Corporation completed its Series D funding round, raising approximately $44 million. The round sees the allocation of new shares to SMBC-GB Growth I Investment Limited Partnership, several other venture capitals, and corporate investors.
Axelspace Corporation, a wholly owned subsidiary of Axelspace Holdings, will use the new funds to meet more diverse customer demands. This involves enhancing our 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.
In addition to 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 stated that we will continue to work toward the realization of our vision, “Space within Your Reach,” by accelerating societal applications of microsatellites.
Yuya Nakamura, the President and CEO of Axelspace Holdings, commented: “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.”
