Astroscale Pte. Ltd, a Singapore based developer of a space debris removal service to secure long-term spaceflight safety, raised US $50m in fourth round of funding.
The round, which brought total capital raised to date to US$102M, was led by INCJ Ltd. (INCJ), with participation from SBI Investment Co., and Mitsubishi Estate Co., Ltd (Mitsubishi Estate), among others.
The company intends to use the funds to boost productivity in its development and design work in Japan, upgrading and expanding ground control center operations as well as engineering, procurement and business development capabilities in the UK, and establish an entity in the US in 2019.
Founded in 2013 by Nobu Okada, CEO, Astroscale is a market-leader in developing a space debris removal service to secure long-term spaceflight safety. To date, the company has grown into an organization of nearly 60 people spread across four countries, with most of the team located at an R&D and manufacturing office in Tokyo, which has existed since 2015.