Axelspace Holdings Corporation today announced that the company completed its Series D funding round raising approximately JPY 6.24 billion (equivalent to USD 44.0 million).

The round sees the allocation of new shares to SMBC-GB Growth I Investment Limited Partnership, several other venture capitals, and corporate investors. This brings the cumulative amount of equity financing to approximately JPY 14.3 billion.

Axelspace Corporation, a wholly owned subsidiary of Axelspace Holdings, will use the new funds to meet more diverse customer demands. This involves enhancing our Earth observation services through the expansion of our proprietary microsatellite constellation which currently consists of five satellites under operation, providing full-scale services of microsatellite development and operation to both public and private sectors, and constructing optical data relay satellite constellations.

In the 15 years since its establishment in 2008, Axelspace has demonstrated a proven track record in the development and operation of a total of nine microsatellites, including a technology demonstration satellite for the Japan Aerospace Exploration Agency (JAXA).

In addition to the Earth observation service 'AxelGlobe' which started in 2015, Axelspace has been progressing its research and development to realize an innovative one-stop service, 'AxelLiner.' This service was announced in 2022 aiming to offer feasibility studies, designing, manufacturing, launch, and in-orbit operations for microsatellites, and its demonstration satellite is expected to launch in early 2024.

We will continue to work toward the realization of our vision, 'Space within Your Reach,' by accelerating societal applications of microsatellites.

Yuya Nakamura, the President and CEO of Axelspace Holdings, commented; We would like to express our gratitude to the investors who, despite challenging market conditions, have decided to invest in us, demonstrating confidence in our future business growth.

This August, we celebrated the company's 15th anniversary. Although it was not an easy road, we have steadily accumulated achievements and evolved our business with invaluable assistance from many people.

With this financing, we hope to further solidify the business foundations of both AxelGlobe and AxelLiner services and to establish ourselves as a leading player in providing comprehensive microsatellite solutions.

Comments from Some of the Investors

Jun Takahashi, President, SMBC Venture Capital Management Co., Ltd.

'We have decided to invest in the space industry, a new growth engine for Japan, and specifically in Axelspace. We are impressed by its achievement in pioneering the space industry and hold high expectations for their future global contributions as a satellite manufacturer and a data service provider.'

Atsumi Kanaya, Managing Officer, General Manager of Open Innovation Department, Mitsui Fudosan Co., Ltd.

'Mitsui Fudosan is developing a business base and ecosystem in Nihonbashi area for the growth of the space industry and technologies.

We are proud to say that we have decided to invest in Axelspace in the expectation that they will realize the next-generation infrastructure for the space industry.'

Shinji Makiura, Senior Managing Executive Officer, YAMATO HOLDINGS CO., LTD.

'We expect Axelspace's microsatellites will promote future utilization of space technology in various industries and societies. Yamato Group will enhance its comprehension of the supply chain to actively pursue new business opportunities in the space industry.'

Sumio Utsunomiya, Chief Operating Officer, Epson X Investment Corporation (EXI)

'Axelspace possesses an assured and solid track record as a private manufacturer of satellites as the space industry grows and becomes a major industry. With its business offering solutions through high-frequency Earth observation services, Axelspace is an innovative leader in promoting the practical implementation of microsatellites in society. Through our support to Axelspace, Epson will continue to create new values for society by adhering to our corporate philosophy of efficiency, compactness, and precision in innovation. '

Yasuhiko Yurimoto, CEO, Global Brain Corporation

'With its solid track record and trust from customers, Axelspace is now offering full-scale microsatellites services for various social applications. We have decided to invest in Axelspace, a pioneer in the field of microsatellites, in the hope that they will become a global unicorn company from Japan and take the company to the next level. '

Naoto Tomono, Senior Associate, Keio Innovation Initiative, Inc.

'We have great expectations for Axelspace, a pioneer in microsatellite technology. We believe that their expertise in satellite manufacturing and Earth observation services will significantly contribute to transforming socio-economic systems and protecting the global environment. We are committed to fully supporting Axelspace and are confident in their potential to make substantial contributions to solving socio-economic challenges on Earth. '

Yuichi Katayori and Hisanori Takata, Co-Founders & Managing Partners, Tokyo University of Science Innovation Capital, Tokyo University of Science Innovation Capital (TUSIC)

'We aim to contribute to the enhancement of society through investment and support activities for companies engaged in advanced science and technology.

The platform developed by Axelspace for the development, production, and operation of microsatellites contributes to the innovation of satellite technology and the progress of business applications. In addition to financial support, we will actively promote industry-academia collaborations and joint research with the Tokyo University of Science group, enhancing the creation of new satellite-related businesses and technological development. '

Contact:

Email: pr@axelspace.com

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