24/7 Space News
Astroscale Raises U.S. $76 Million, Continuing to Lead the Growing On-Orbit Servicing Sector
File image of Astroscale's Elsa-D debris cleaner.
Astroscale Raises U.S. $76 Million, Continuing to Lead the Growing On-Orbit Servicing Sector
by Staff Writers
Tokyo, Japan (SPX) Feb 27, 2023

Astroscale Holdings Inc. ("Astroscale"), the market leader in satellite servicing and long-term sustainability across all orbits, has closed a Series G round with more than U.S. $76 million in funding from new investors Mitsubishi Electric, Yusaku Maezawa, Mitsubishi UFJ Bank, Mitsubishi Corporation, Development Bank of Japan, and FEL Corporation.

With the closing of this round, Astroscale has raised a total of approximately U.S. $376 million since establishment, demonstrating strong investor confidence in its stability, success and market leadership in the on-orbit services sector, despite the extremely challenging global economic climate.

"We are pleased with the interest we received from our investors, which conveys a vote of confidence in Astroscale's vision and potential," said Nobu Okada, Founder and CEO of Astroscale. "On-orbit servicing is a necessary infrastructure for a sustainable and growing space economy, and the key to reducing risk and increasing returns for satellite operators. We are on a mission to make on-orbit servicing routine by 2030, and these funds will significantly contribute to further innovative technology development, global expansion and increased capacity to meet the growing demand."

"Mitsubishi Electric is working to promote the use of space in the security sector, which strongly connects with Astroscale's efforts to build a sustainable space economy for future generations," said Masahiko Arai, General Manager of the Defense Systems Division of Mitsubishi Electric. "We are excited to invest in Astroscale and looking forward to cooperate and merge our collective expertise in supporting their business strategy and development of innovative technologies."

The global economy is more dependent on satellite services than at any time in history, and this dependence is only rising. The number of space debris objects in low-Earth orbit is exponentially increasing, posing a threat to all who benefit every day from these services. These risks, and the wasted value and opportunity inherent in single-use space operations, have driven Astroscale to pioneer on-orbit services such as end-of-life removal of satellites, active debris removal, in-space situational awareness and satellite life extension.

Astroscale has a variety of missions and projects underway around the world:

Astroscale Japan is under contract with JAXA for Phase I of the Commercial Removal of Debris Demonstration Project (CRD2), which will characterize an upper stage rocket body in orbit. It was also selected as a contract partner for a technology study in Phase II of CRD2, which would involve removing a large-scale debris object from orbit.

Astroscale UK is developing an active debris removal mission, Cleaning Outer Space Missions through Innovative Capture (COSMIC), in partnership with the UK Space Agency, and plans to demonstrate the ELSA-M servicer in 2024 in partnership with OneWeb, the UK Space Agency and the European Space Agency.

Astroscale U.S. and Astroscale Israel teams are global leaders in building the technology and mission plan for Life Extension services. The Astroscale U.S. team is also working with several U.S. government agencies, including the Air Force Research Laboratory and Space Force, on R and D for satellite servicing.

A previous mission, End of Life Services by Astroscale-demonstration (ELSA-d), successfully demonstrated a series of key technologies required for space debris removal in 2021 and 2022, a milestone for on-orbit servicing and an unprecedented achievement for a commercially funded mission in LEO.

To develop its services and meet increasing demand from customers, Astroscale is expanding its workforce and has opened new facilities in the UK, U.S., and Israel, with a global headquarters facility set to open in Tokyo later this year. Astroscale has been able to attract high quality talent from around the world, and its global team has grown by 63% to over 400 members since its last funding round in November 2021.

PJT Partners acted as financial advisor to Astroscale on this transaction.

Related Links
Space Technology News - Applications and Research

Subscribe Free To Our Daily Newsletters

The following news reports may link to other Space Media Network websites.
Revolutionary Space Debris Removal Mission Advances to Next Phase
Renens, Switzerland (SPX) Feb 27, 2023
Switzerland-based ClearSpace and its industrial partners have successfully passed their first major program review with the European Space Agency (ESA) for its ground-breaking mission to remove a large debris object from Earth orbit. With this milestone, ClearSpace has shown the ability to meet the technology requirements this mission demands. In addition, ESA and the participating States have reconfirmed their support for active debris removal by fully funding the next phase of the ClearSpace-1 p ... read more

SpaceX Crew-6 ISS launch scrubbed; Empty Soyuz docks as replacement

Russian ship docks with ISS to replace damaged capsule

Russia launches empty ship to ISS to replace damaged capsule

Crew-6 ready for launch and a program of scientific studies on ISS

ULA's Vulcan Centaur rocket is flying for the first time in May

DoD invests additional $1.5M toward 3D-printed hypersonic rocket engine

World's first 3D-printed rocket Terran 1 is ready for its maiden flight

NASA, SpaceX delay Sunday Crew-6 flight until Monday

Drilling the Marker Band Again: Sols 3750-3751

Better tools needed to determine ancient life on Mars

Another Busy Day on Mars: Sol 3749

Perseverance set to begin third year on Mars at Jezero Crater

China's space station experiments pave way for new space technology

China solicits logos for manned space missions in 2023

Two crews set for Tiangong station in '23

Large number of launches planned

New research models concept for data transport using train of satellites

Luxembourg taps into SES's O3b mPOWER for defense and disaster recovery

Space Daily retools to AI/ML centric Content Management System

Public work begins on UK's largest commercial satellite control centre

BeetleSat deploys satellite expandable antenna in LEO orbit

Astroscale Raises U.S. $76 Million, Continuing to Lead the Growing On-Orbit Servicing Sector

Revolutionary Space Debris Removal Mission Advances to Next Phase

Redwire partners with Starfish Space for Otter Pup satellite docking mission

Nanosatellite shows the way to RNA medicine of the future

CARMENES project boosts the number of known planets in the solar neighbourhood

"Forbidden" planet orbiting small star challenges gas giant formation theories

Very Large Telescope captures direct images of bright exoplanet

Newly discovered form of salty ice could exist on surface of extraterrestrial moons

New aurorae detected on Jupiter's four largest moons

JUICE's final take-off before lift-off

A new ring system discovered in our Solar System

Subscribe Free To Our Daily Newsletters


The content herein, unless otherwise known to be public domain, are Copyright 1995-2023 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.