ElevationSpace, a Sendai, Japan-based space startup, raised $2.7M in Seed funding.
Backers included Genesia Ventures, Plug and Play Japan, Innovations and Future Creation, Leave a Nest Capital, MAKOTO Capital and Tohoku University Venture Capital. In addition, Mr. Masafumi Kawai, Partner/Chief ESG Officer of Genesia Ventures, Inc. has been newly appointed as an outside director to strengthen the management structure and corporate governance.
The company intends to use the funds to accelerate the development of the ELS-R100, a technical demonstration satellite that is scheduled to be launched in 2023, and focus on building an organizational structure for the research and development and business development of the ELS-R1000, a service providing satellite scheduled for 2026.
Led by CEO Ryohei Kobayashi, ElevationSpace is a space startup company that originated at Tohoku University in Japan and develops a space environment utilization and recovery platform to replace the International Space Station (ISS).
The company’s first launch is planned for 2023, this satellite called “ELS-R” to acquiring atmospheric re-entry technology. Next satellite is “ELS-R1000” which is a service providing satellite around 1000kg. The first launch of the ELS-R1000 is scheduled for 2026, with the aim of six launches per year by 2030.
FinSMEs
09/03/2022