With this funding, Astroscale hopes to address a problem few of us know about: space junk
Founded by Japanese entrepreneur Mitsunobu Okada, the company’s new round also consists of investors who are heavyweights in the Japanese tech industry. Among them are venture capital firm JAFCO; Mistletoe, a company founded by Japanese billionaire Taizo Son; Gree co-founder Kotaro Yamagishi; Mixi co-founder Kenji Kasahara; Shuhei Morofuji, founder of SMS, a $120 million healthcare information services company; and Netage founder Kiyoshi Nishikawa.
The funds will be used to set up an office in Japan to “accelerate manufacturing small satellites.” It aims to demo its space junk removal system by the end of 2017. The company, which pitched at Startup Asia Singapore 2014, plans to rely partly on supplementary revenue streams to sustain itself. These include sending Pocari Sweat sports drink and original J-pop songs to the moon as marketing stunts.
Tech in Asia has reached out to Astroscale for more details on the investment.
Editing by J.T. Quigley
This post was originally published on Tech in Asia.
Featured Image Credit: Astroscale