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.