Axelspace, a Tokyo-based micro-satellites technology company, has raised $44 million in Series D funding in a round led by Sumitomo Mitsui Banking Corporation and SMBC Venture Capital Management. Other investors include Global Brain Corporation, Mitsui Fudosan, EPSON X Investment Corporation, Keio Innovation Initiative, Tokyo University of Science Innovation Capital, The Nanto Bank, and The Seibu Shinkin Bank. The funding will be used to expand operations and continue development efforts.
Axelspace develops and operates micro-satellites and offers services such as the Earth Observation Platform “AxelGlobe” with a 5-satellite constellation and the one-stop service for microsatellites “AxelLiner”. The company has already launched and operated 9 satellites and plans to launch its first demonstration microsatellites of AxelLiner, called “Pyxis,” in the first quarter of 2024.
This latest funding round will allow Axelspace to further its mission of making space technology more accessible to a wide range of industries and applications. The company aims to provide global coverage and frequent updates of Earth observation data, which can be used for various purposes, including urban planning, agriculture, natural disaster monitoring, and environmental conservation.
In addition to its satellites, Axelspace has also developed unique technologies to efficiently process large amounts of satellite data. The company uses AI and machine learning algorithms to analyze and extract valuable insights from the images captured by its satellites. This enables users to access relevant and timely information for decision-making.
The funding from this Series D round will enable Axelspace to expand its satellite constellation and improve its data processing capabilities. The company plans to continue launching more satellites to increase coverage and frequency of data capture, as well as enhance its data analytics capabilities to provide more accurate and actionable insights.
Axelspace’s innovative approach to satellite technology has already garnered attention and partnerships from various industries. The company has collaborated with government agencies, research institutions, and commercial entities to create customized solutions for specific use cases.
Overall, Axelspace’s latest funding round will fuel its growth and help accelerate the development and deployment of its micro-satellite technology. With the aim of making space within reach, the company is set to revolutionize the way we access and utilize Earth observation data.
