Capital and business alliance with Sompo Japan Insurance

Warp Space Co., Ltd. has entered into a capital and business alliance with Sompo Japan Insurance Co., Ltd. (Headquarters: Shinjuku-ku, Tokyo, President: Giichi Shirakawa, hereinafter "Sompo Japan") in January 2023.

Warp Space has raised funds through convertible equity, which led to a capital and business alliance with Sompo Japan. Warpspace will further advance the development of "WarpHub InterSat" by receiving business support from Sompo Japan. Specifically, we will strengthen our development system, procure parts and materials for relay satellites, develop core technologies, and strengthen security.

As a private company, WarpHub aims to realize WarpHub InterSat, the world's first satellite-to-satellite optical communication network service using small optical relay satellites, by 2025. In recent years, the number of satellites that observe the earth in low orbit 400~1,000 km from the ground has been rapidly increasing. This service enables rapid high-speed communication to and from the ground. This makes it possible to acquire and use more observation and sensing data in a form close to real-time. For example, this is expected to improve the speed and accuracy of emergency support in the event of a disaster, and to improve the accuracy of understanding the status of ships and containers in port logistics.

Sompo Japan is working to solve social issues by developing insurance that responds to new risks for space operators, improving customer service through collaboration and co-creation with space operators with space technology, and building new solutions, as the private-sector space development is at a stage of remarkable growth.

Through this project support, Sompo Japan will contribute to solving the problems of satellite operators that handle observation and sensing data, and support the promotion of the utilization of satellite data on the ground. In addition, Warp Space plans to develop its business in the mid-orbit area, which is expected to expand in the future. There are still few cases related to this trajectory, and through this alliance, Sompo Japan will improve its ability to respond to risks in this trajectory.

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