Astroscale Completes its Largest Financing Round Yet, Raising $109M
Astroscale has achieved a significant financing milestone, completing the largest funding round in its history. The company announced Nov. 25 that it has closed its Series F round with additional funding of $109 million from a group of new investors. These include THE FUND Limited Partnership in Japan, with participation from international investors including Seraphim Space Investment Trust (Seraphim Space) in the United Kingdom and DNCA Invest Beyond Global Leaders.
This brings Astroscale’s total financing raised to $300 million. Astroscale continues to be one of the most talked about companies in the satellite industry, given the importance of satellite servicing and space debris removal. It follows after the company’s $51 million Series E round in October 2020.
The company has had a big year in 2021. The End-of-Life Services by Astroscale-demonstration (ELSA-d) mission successfully completed its first technical demonstration in orbit in August, and Astroscale is preparing for the next phase, described as “capture without tumbling,” which is expected to be completed by the end of the calendar year. It has also won key important contracts recently from the likes of the Japan Aerospace Exploration Agency (JAXA) and the United Kingdom Space Agency (UKSA).
“This latest round of funding will dramatically accelerate our ability to make on-orbit servicing routine by 2030. It also shows that investors around the world, acknowledge the tremendous potential in the emerging on-orbit servicing market, which will revolutionize the future of space,” Nobu Okada, founder and CEO of Astroscale, said in a statement.