Photo credit: iSpace
Shares of Tokyo-based spacetech startup Ispace went untraded on its market debut amid a glut of buy orders. The company’s IPO valued the Tokyo-based firm at about 20 billion yen (US$150 million), Bloomberg reported.
Ispace’s first lunar lander is expected to touch down on the moon as early as this month, which will make it the first commercial spacecraft to do so.
The company plans to use a part of the proceeds to develop lunar landers and pay for launches to be conducted by Elon Musk’s SpaceX. Ispace’s primary goal is to build a human settlement on the moon by 2040.
The firm raised US$46 million in a series C funding round in August 2021. Ispace expects its net loss to narrow in the current fiscal year, with a projected tenfold increase in payload from its third mission, scheduled for as early as 2025.
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Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.
Currency converted from Japanese yen to US dollar: US$1 = 133.23 yen.
Editing by Miguel Cordon and Dhania Putri Sarahtika
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