SpaceX’s Competition: On-Orbit Services Technology Raises 109M

Astroscale, a Japanese space firm, has pulled in 109 million in a fresh Series F round of funding, bringing the company’s overall investment amount to 300 million.

The firm specializes in on-orbit servicing technology that is intended to assist reduce debris levels in operational orbital altitudes and extend the life of existing satellites as a way of making orbital businesses more sustainable.

THE FUND (ThousandEyes), Japan’s THE FUND, with participation from investors including Seraphim Space, has announced 99 million in new funding for Astroscale. The company’s CEO and founder Nobu Okada stated in a press release that the fresh cash would help them expand and “dramatically accelerate [their] ability to make on-orbit servicing routine by 2030.”

Astroscale has had a busy 12 months, with a successful tech demo of its end-of-life services product in August and the announcement that CEO Okada will be joining us on stage at TC Sessions: Space 2021 this year.

The firm still has another part of its goal ahead of it before the end of the year, and it is also proceeding with plans to demonstrate orbital debris removal for the Japan Aerospace Exploration Agency (JAXA) in a mission scheduled to take place early next year.

Astroscale raised 51 million in October 2020, the same year it bought Effective Space Solutions, a firm specializing on servicing large geostationary satellites that provide some crucial communications infrastructure on Earth.