Tokyo Based SpaceTech Startup Astroscale Raises $51 million

Astroscale develops innovative and scalable solutions across the spectrum of on-orbit servicing missions, In-situ Space Situational Awareness, End of Life services, and Active Debris Removal, to make sustainable space systems and mitigate the growing and unsafe buildup of debris in space.

Astroscale Holdings Inc. raised $51 million during a Series E investment round, bringing total funding to $191 million.

With the newest investment, Astroscale becomes “the most funded on-orbit services and logistics company globally and most funded space venture in Japan,” Nobu Okada, Astroscale founder and CEO, Oct. 13 said during the virtual International Astronautical Congress (IAC) 2020.

Founded in 2013, Astroscale currently employs 140 people on five continents.

This latest series will allow the corporate to continue developing the technologies which will lead the debris removal and on-orbit servicing market.

Astroscale plans to demonstrate its debris-removal technology through a self-funded mission to low Earth orbit, called End-of-Life Service by Astroscale-demonstration (ELSA-d). The JAXA (Japan Aerospace Exploration Agency) also awarded Astroscale a contract to examine a spent Japanese upper stage during a mission that would cause a follow-on contract to capture the rocket stage and move it out of orbit.

Astroscale’s E round was led by aStart Co. Ltd., a Tokyo risk capital firm, with participation from Hulic Co. Ltd., I-Net Corp., Shimizu Corp. and Sparx Space Frontier Fund.