Singapore-based startup that removes space debris nabs $50m

ELSA-d mission / Image credit: Astroscale

Astroscale, a startup focused on removing spacecraft debris from orbit, has secured US$50 million in funding from a group of investors led by the Innovation Network Corporation of Japan (INCJ) as well as funds operated by SBI Investment and Mitsubishi Estate.

The series D investment brings the Singapore-based company’s total funding to US$102 million.

“As launch and satellite development costs decrease and space becomes more accessible, the risks associated with space debris have increased dramatically. Governments and industry around the world are becoming more aware of this concern and are beginning to demand solutions,” said Astroscale in a statement.

The startup will use the fresh funding for various goals, such as boosting its development and design work in Japan. It’s also upgrading and expanding its ground control center operations, in addition to its engineering, procurement, and business development capabilities in the UK.

Astroscale is planning to establish its US presence in 2019 as well.

At present, the firm is working on its first debris capture mission. The End of Life Services by Astroscale demonstration (ELSA-d) is scheduled to launch in early 2020. The proof-of-concept will demonstrate the technology needed for debris removal, including rendezvous and docking, and proximity operations.