Earth Observation Microsatellite Business Secures $44M in Series D Funding

Axelspace Holdings, an Earth Observation and microsatellite specialist, has recently completed a ¥6.24 billion Series D funding round, equivalent to $44.0 million.

With this latest round of investments from SMBC-GB Growth I Investment Limited Partnership, 31VENTURES, KURONEKO Innovation Fund, and other venture capital and corporate investors, Axelspace has now raised a cumulative amount of approximately ¥14.3 billion in equity financing.

The funding will primarily be used to further develop and enhance Axelspace's two main services: AxelGlobe and AxelLiner.

AxelGlobe is a service that provides Earth imagery, while AxelLiner offers microsatellites for third-party use. The company aims to establish itself as a leading player in providing comprehensive microsatellite solutions.

Axelspace's AxelLiner service is described as a "one-stop service" that includes feasibility studies, design, manufacturing, launch, and in-orbit operations for microsatellites. The company plans to launch a demonstration satellite for this service early this year.

Founded in 2008 and based in Tokyo, Axelspace has been involved in the development and operation of nine satellites, including a technology demonstration microsatellite for JAXA (the Japan Aerospace Exploration Agency).

"This August, we celebrated the company's 15th anniversary," said Yuya Nakamura, the President and CEO of Axelspace Holdings. "Although it was not an easy road, we have steadily accumulated achievements and evolved our business with invaluable assistance from many people."

"With this financing, we hope to further solidify the business foundations of both AxelGlobe and AxelLiner services and to establish ourselves as a leading player in providing comprehensive microsatellite solutions," Nakamura added.

Axelspace currently operates a constellation of five satellites.

"We have decided to invest in the space industry, a new growth engine for Japan, and specifically in Axelspace," said Jun Takahashi, President of the lead investor SMBC Venture Capital Management.

"We are impressed by its achievement in pioneering the space industry and hold high expectations for their future global contributions as a satellite manufacturer and a data service provider," Takahashi added.

Images: Axelspace

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