Space startup Astroscale explores Tokyo listing by June

The Astroscale team / Photo credit: Astroscale

Astroscale, a Japan-based company dealing with space waste, is planning to list on the Tokyo Stock Exchange by June after consulting with global investors last month, Reuters reported.

The company, which cleans up used rockets and retired satellites orbiting Earth, mulled over an IPO last year, but disagreements over company valuation halted these plans.

If the plan goes through, Astroscale would join the likes of iQPS and Ispace, two other publicly listed Japanese spacetech firms.

Japan’s government plans to double the market size of its space sector to US$53 billion within a decade. However, increased scrutiny followed Ispace’s failed moon landing last year, which slashed its share value.

While the market sentiment of spacetech firms is largely positive, high-stake investors are also thoroughly reviewing startups in the sector due to inherent high risks, the report noted.

Founded in 2013, Astroscale last raised funding in February 2023, closing its series G round at US$76 million. At the time, the company said it planned to boost the development of its on-orbit services.

Nobu Okada, Astroscale founder and CEO, said at the time that the company plans “to make on-orbit servicing routine by 2030.”

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