Japanese satellite company Axelspace raised $44 million in a Series D funding round, the company announced Dec. 20. Axelspace, based in Tokyo, has an Earth observation (EO) business and manufactures microsatellites as well. The company said it will use the funds to improve its EO business by expanding its five-satellite constellation. Sumitomo Mitsui Banking Corporation / SMBC Venture Capital Management Co., Ltd. / Global Brain Corporation led the funding round, which included a number of other investors including Mitsui Fudosan Co.; Yamato Holdings Co; and Epson X Investment Corporation. Axelspace, which was founded 15 years ago, has raised a total of 14.3 billion Japanese yen ($100 million).

Source: Libya Today December 21, 2023 17:30 UTC