Write a comment
ElevationSpace Inc. (Headquartered: Sendai, Miyagi Prefecture, Japan, Co-Founder and CEO: Ryohei Kobayashi), a space startup company that originated at Tohoku University in Japan and develops a space environment utilization and recovery platform to replace the International Space Station (ISS), has raised seed funding of $2.7 million from six investors. Adding pre-seed funding, the total amount ElevationSpace Inc. (Headquartered: Sendai, Miyagi Prefecture, Japan, Co-Founder and CEO: Ryohei Kobayashi), a space startup company that originated at Tohoku University in Japan and develops a space environment utilization and recovery platform to replace the International Space Station (ISS), has raised seed funding of $2.7 million from six investors. Adding pre-seed funding, the total amount is approximately $3 million.
In addition, Mr. Masafumi Kawai, Partner/Chief ESG Officer of Genesia Ventures, Inc. has been newly appointed as an outside director to strengthen the management structure and corporate governance.
Seed Round Investors
+ Genesia Ventures, Inc.
+ Plug and Play Japan
+ Tohoku University Venture Partners Co., Ltd.
+ Innovations and Future Creation Inc.
+ MAKOTO Capital Co., Ltd.
+ Leave a Nest Capital
With this funding, we will accelerate the development of the ELS-R100, a technical demonstration satellite that is scheduled to be launched in 2023, and focus on building an organizational structure for the research and development and business development of the ELS-R1000, a service providing satellite scheduled for 2026.
ELS-R100 is around 150kg satellite for acquiring atmospheric re-entry technology, and it will conduct a space experiment to cultivate euglena provided by Euglena Co., a renowned Japanese biotechnology company, to utilize it as a future food and energy source in space.
If this experiment is successful, it will be the first case of a Japanese spacecraft bringing back living organisms from space and be a major step toward Japan's crewed space development.
Ryohei Kobayashi, CEO, ElevationSpace Inc. further added "Genesia Ventures has extensive connections not only in Japan but also in Asia, and we asked them to join us as a lead investor to accelerate our business development globally, including in Asia.
"Developing countries like Asian countries do not have enough opportunities to use ISS while their economies are growing rapidly and space development is gaining momentum. We believe it is necessary to provide opportunities to conduct experiments and demonstrate technologies in space in such regions."
Related Links
ElevationSpace
Microsat News and Nanosat News at SpaceMart.com
|
| Tweet |
| Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution. | ||
| SpaceDaily Monthly Supporter
$5+ Billed Monthly |  | SpaceDaily Contributor
$5 Billed Once credit card or paypal |
China's new-generation rocket sends 22 satellites into space in record-setting mission
Wenchang (XNA) Mar 01, 2022
China launched a Long March-8 rocket to place 22 satellites in space on Sunday, setting a domestic record for the most spacecraft launched by a single rocket. The rocket blasted off at 11:06 a.m. (Beijing Time) at the Wenchang Spacecraft Launch Site in the southern Hainan Province before sending the satellites into preset orbit. These satellites will then be released in 12 groups. They will be mainly used for commercial remote sensing services, marine environment monitoring, forest fire prev ... read more