Japan's Astroscale expands Series D by $30m

Participants in the extension include several of Astroscale’s existing investors, such as Innovation Network Corporation of Japan (INCJ), which led the initial $50 million tranche of the Series D in November. Sumitomo Mitsui Trust, aStart, UTokyo Innovation Platform, and Japanese entrepreneur Joe Hirao also contributed, according to a release.

Along with the investment, Astroscale announced the launch of its first US office in Denver, Colorado, which will focus on business development and technology growth. Astroscale’s US arm will be led by Ron Lopez, a former head of defense and space sales in Asia Pacific for Honeywell.

Astroscale was founded in 2013 and specializes in the development of orbital machines for hazardous satellite debris removal activities. The company has raised $132 million to date and currently has offices in Japan, Singapore, and the UK.

With launch costs falling and private space activity growing worldwide, many in the aerospace industry have expressed concern about a buildup of outdated satellites and scrap material in orbit that could pose hazards for future space missions. Astroscale aims to provide a private-sector solution that can be marketed to governments and other clients.

“This is an exciting time for Astroscale and marks a significant milestone for the company, its employees and future customers who will all benefit from the opportunities this expansion presents,” said Nobu Okada, founder and CEO of Astroscale. “An office in the United States will allow us to work closely with policymakers and business leaders to devise a sustainable solution for this global issue.”

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• Topics
• Technology
• Expansion
• North America
• North Asia
• USA
• Innovation Network Corp. of Japan (INCJ)
• Sumitomo Mitsui
• Japan