Japan space robot maker Gitai raises $45m
Japanese space robotics start-up Gitai has lifted its Series B round to USD 45m with a new USD 15m tranche featuring Mitsui Sumitomo Insurance Venture Capital.
Pacific Bays Capital and Green Co-Invest Investment also participated in the latest investment, which included a debt component from MUFG Bank.
It extends an approximately USD 30m Series B announced last May featuring Global Brain, Anri, Daiwa Corporate Investment, JIC Venture Growth Investments, NEC Capital Solutions, NVenture, Dai-ichi Life Insurance, Mitsubishi UFJ Capital, and electric utility J-Power.
Gitai claims to be the leading space robotics start-up globally, with technology said to facilitate safe and affordable labour in space at dramatic cost savings versus conventional approaches. It is developing a suite of robots to help build and maintain satellites, space stations, lunar bases, and cities on Mars.
Proceeds from the round will go toward a lunar rover and robotic arm, as well as flight testing facilities and a staff expansion in the US. Gitai is working with SpaceX and NASA on transportation for its first in-orbit equipment tests.
“While SpaceX and BlueOrigin are reducing the cost of transportation to space by 100x, we at GITAI are taking on the challenge of reducing labour costs by 100x,” CEO Sho Nakanose said in a statement.
“We will provide the most labour for the Moon and Mars and build infrastructure such as solar panels, communication antennas, fuel generators, and habitation modules.”
Gitai has raised about USD 67m since its inception in 2016, according to AVCJ Research, including a USD 17m round featuring Glboal Brain, Daiwa, Dai-ichi, and Sparx Group in 2021. It was billed at the time as a Series B. Previous investors also include Spiral Ventures, Coral Capital, DBJ Capital, and Skyland Ventures.
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