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Astroscale Opens Series E
Funding Round and Secures First Investor
May 18, 2020
Astroscale Holdings Inc. announced
it has opened a Series E funding round and has secured
I-NET CORP. (I-NET), a leading Japanese data center
provider, as its first investor for an undisclosed
amount. The additional financing will be used to broaden
Astroscale’s current business services and achieve the
company’s mission of securing a sustainable orbital
environment.
“Our daily lives have changed
drastically and we have come to depend on satellite
services at a whole new level during this unprecedented
global crisis,” said Nobu Okada, Founder & CEO of
Astroscale. “Now, more than ever, it is evident that we
need to take action to protect assets in space and, with
the broadening of our business services, we will be even
better positioned to meet the challenges of orbital
sustainability. We are grateful to I-NET as the first
investor of our Series E funding round.”
Despite the many complications
brought on by the onset of COVID-19, Astroscale has
shown steady growth and success in the first half of
2020. In January the company was awarded a grant of up
to US $4.5 million from the Tokyo Metropolitan
Government’s “Innovation Tokyo Project,” and in
February, Astroscale was selected as commercial partner
for Phase I of the Japan Aerospace Exploration Agency’s
(JAXA) first debris removal project. Astroscale’s
offices in the United Kingdom and United States continue
to make key additions to their management and technical
teams and are well positioned to service future
commercial and institutional customers. In addition to
building technical capabilities and securing contracts,
Astroscale continues to work with industry and
government representatives to develop standards and best
practices for safe and sustainable satellite servicing
and debris removal.
Astroscale’s success in the first
half of the year is expected to continue. Notably, in
the later half of 2020 Astroscale is on track to launch
its End-of-Life Services by Astroscale-demonstration
(ELSA-d) mission, the world’s first demonstration of
commercial orbital debris removal.
The Series E funding round will
close by the end of 2020.
The 11th Annual Australasia Satellite Forum
The Fullerton (formerly Westin) Hotel, Sydney, Australia
New dates: 26 & 27 October 2020
Contact: kfrench @talksatellite.com
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