Axelspace Holdings Corporation has completed the firm’s Series D funding round raising approximately JPY 6.24 billion (equivalent to $44.0 million) — this round sees the allocation of new shares to SMBC-GB Growth I Investment Limited Partnership, several other venture capitals, and corporate investors and 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 EO services through the expansion of the company’s proprietary smallsat constellation that currently consists of five satellites that provide full-scale services to public and private sectors as well as optical data relay operations.
In the 15 years since its establishment in 2008, Axelspace has a proven track record in the development and operation of a total of nine smallsats, including a technology demonstration satellite for the Japan Aerospace Exploration Agency (JAXA).
In addition to the EO service “AxelGlobe,” which started in 2015, Axelspace has been progressing its R&D to realize an innovative one-stop service, “AxelLiner.” This service was announced in 2022 aiming to offer feasibility studies, designing, manufacturing, launch, and on-orbit operations for microsatellites, and its demo satellite is expected to launch in early 2024.
“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