Space

Astroscale’s Series E funding of $51 million increases its investment to a total of $191 million

Humanity’s ambitious goal to explore outer space continues to spearhead the increasing number of space mission launches that send spacecraft and satellites into Earth’s lower orbit. The primary concern with massive satellite constellations is space debris accumulation, such as unfunctional satellites and unreusable rocket boosters. Experts and astronomers said that the clusters of satellites interfere with the observations made by ground-based telescopes. The numerous satellites disrupt the clarity and tranquility of night skies, the ideal field of view for astronomers taking telescopic observations while studying outer space. 

A recent report indicated that some fragments of the rocket nearly collided with the International Space Station. The near-catastrophe served as a wake-up call for innovation of solutions to eliminate the space debris. Many space technology companies continue to institute programs that help create space technology to deal with the menace. 

Astroscale Holdings Incorporation is among the space technology companies based in Tokyo that offer a solution to the build-up of space junk. The organization recently raised $51 million during its Series E funding stage, summing up to a total startup investment of $191 million. Astroscale plans to use the investment in its space program to conduct launch missions for orbital space junk removal. The company is working on a revolutionary technology that identifies the size, shape, and exact location of space debris for extraction and elimination from Earth’s lower orbit. The new investment boosts the Astroscale’s plan to advance the state-of-the-art system that pioneers the vision for removing space junks.¬†

Nobu Okada, the Chief Executive and founder of Astroscale, said that the company ranks as the top-funded international organization that offers space logistics and on-orbit services. Following the recent $50 million funding, Astroscale becomes a space venture with Japan’s highest investment. Okada delivered the statement during an online 2020’s International Astronautical Congress held on October 13. The annual event aims to evaluate the progress of space industries worldwide. The event advocates for new space technologies that aim to solve challenges that scientists and astronauts encounter in space while conducting their research works. 

Nobu Okada said that Astroscale’s multi-investment rounds prove the power of the company’s vision to achieve space sustainability. The core objective of the technological advancement team at Astroscale to develop the idea for space debris removal. The company plans to use its latest investment in pioneering the space junk elimination technology, alongside on-orbit services for the growing market for space technologies. In conclusion, Astroscale schedules to illustrate its revolutionary debris-removal technology using a self-funded launch mission to Earth’s lower orbit. The mission, dubbed the End-of-Life Service, is the demonstration of its prototype for removing space debris. After the demo mission, the plans to make adjustments to the technology. 

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