Japan space tech start-up raises $100m

This sum has been accumulated since February 2018. The company claims that makes it the fastest-ever fundraising process for a space start-up globally.

SBI invested from its JPY50 billion ($460 million) artificial intelligence and blockchain fund, which also targets internet-of-things. Jafco contributed through its fifth global VC and buyout fund, SV5, while Mizhuo Bank invested via the third growth fund of its VC unit Mizuho Capital.

Mitsubishi UFJ Trust & Banking Corporation, Shimizu Corporation, Fuyo General Lease Co, and Mori Trust also participated, alongside local VCs Abies Ventures and aStart. Tokyo Institute of Technology and Keio University invested through their respective VC programs, while the University of Tokyo has provided at least $4.5 million since December via a similar innovation platform.

Synspective was founded last year with a goal of providing government and private corporate clients with a one-stop services package focused on satellite-gathered geospatial data. Its core technology was developed in partnership with Japan’s government. It incorporates a microwave-based system which, unlike optical sensors, can be used day or night and in all weather conditions.

The fresh capital ranks the company among Japan’s best-funded space start-ups and will support various R&D and manufacturing plans. “Synspective’s first demonstration satellite is to be launched in 2020 and is steadily being developed,” Motoyuki Arai, CEO of Synspective, said in a statement. “Customized solutions services have already been contracted by several companies prior to launch.”

Japan is a leading jurisdiction in Asia for space technology development and investment. Previous activity in this segment includes a $90 million Series A for lunar exploration company iSpace, which also attracted Shimizu Corporation, as well as a $23 million Series B for microsatellite maker Axelspace that included participation by SBI and University of Tokyo. 

Earlier this year, University of Tokyo and aStart joined a $30 million investment in Astroscale, a company focused on cleaning up dangerous debris in orbit. The transaction added to a Series D round for the company that raised $50 million in 2018 with support from SBI. Jafco, Mizuho, Mitsubishi UFJ Capital, and Abies affiliate Mistletoe are also investors in the company.

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• Topics
• North Asia
• Early-stage
• Infrastructure
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• Technology
• Japan
• SBI Holdings
• JAFCO
• Mizuho Capital
• Mitsubishi UFJ Capital
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