Astroscale is preparing its satellite for the ELSA-d mission (End-of-Life Services by Astroscale Demonstration).
Astroscale, specialist in satellite services and waste disposal, announced Tuesday that a $ 51 million round of funding had been closed, bringing the total investment to $ 191 million.
“This makes Astroscale the world’s most funded satellite service and logistics company and the most funded space company in Japan,” said CEO Nobu Okada virtually at the 2020 International Astronautical Congress. “To be honest, it’s the COVID-19 era hard. We have been very busy keeping employees healthy and have had to reassess all aspects of the business, including stabilizing the supply chain, but it seems like we are doing well. “”
Astroscale’s most recent fundraising came from a group led by the aSTART venture fund, along with investors Hulic, I-NET, SHIMIZU Corp, and SPARX Space Frontier Fund.
Astroscale is headquartered in Toyko, Japan, and has offices in several countries, including the United States. The company is working to develop cost-effective methods of maintaining orbiting satellites and removing old spacecraft and debris. The company, founded by Okada in 2013, now employs more than 140 people to advance new space technologies in orbit. Astroscale’s satellite service is focused on extending the life of large satellites, which can cost hundreds of millions of dollars to replace. Citing an independent assessment, Astroscale said the orbital satellite services market is projected to have more than $ 4 billion in annual revenue through 2028.
In addition, Astroscale is trying to develop new methods of removing debris and old spacecraft from orbit. The End of Life Services by Astroscale Demonstration (ELSA-d) mission will demonstrate for the first time how the technology can capture debris and remove it from orbit. ELSA-d is scheduled to launch with a Russian Soyuz-2 rocket before the end of the year.
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