ALE Co., Ltd. (ALE), led by CEO Lena Okajima, has allocated new shares to third parties that are underwritten by the Space Frontier Fund (operated by SPARX Innovation for Future Co., Ltd.), Horizons Ventures, THVP No.2 Investment Limited Partnership (operated by Tohoku University Venture Partners Co., Ltd.) and private investors.
In addition to its series A financing, announced on September 5, 2019, ALE will secure a total of approximately $21 million by April of 2022 with participation from existing and new investors. The total amount of funding including series A will be approximately $47 million.
This additional financing will help the company further develop its third satellite for man-made shooting stars (on-orbit demonstration in 2023 and commercialization subsequently), the space debris prevention component using an ElectroDynamic Tether* (on-orbit demonstration is planned for FY 2021), and the component technology for atmospheric data acquisition as well as establishing an organizational structure for the Atmospheric Data business development.
*Space debris prevention component using EDT (ElectroDynamic Tether)