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Japanese satellite firm Axelspace raises $24m in Series C funding
Axelspace Management Team.
May 18, 2021
Axelspace, one of Japan’s pioneers in microsatellite technology, announced raising $24 million in a Series C funding round from a slew of local venture investors.
Sparx Innovation participated in the funding round through The Space Frontier Fund while Sumitomo Mitsui Trust Investment Co joined via its Japan Co-Invest III Limited Partnership.
Japan Post Investment Group, via Japan Post Invest I LP, and Mitsubishi UFJ Capital Co, through Mitsubishi UFJ Capital VII, and Global Brain Corporation also joined in the funding round.
Axelspace has been developing a next-generation Earth-observation platform named AxelGlobe, which has the capability of obtaining images of the whole planet with high frequency.
Tokyo-based Earth observation company
Axelspace completed a successful Series C fundraising campaign that netted 2.58 billion Japanese Yen ($23.8 million) from investors including
The Space Frontier Fund, Japan Co-Invest III Limited Partnership, 31Ventures, Kyocera, and
Mitsubishi UFJ Capital.
As a result, Axelspace will allocate new shares of the company to the new investor group.
Axelspace has been developing a next-generation Earth Observation (EO) platform named AxelGlobe, which will run off of a constellation of 10 microsatellites. The company launched four of those satellites in March and plans to orbit the remaining six spacecraft by the end of 2023. Once complete, the constellation will enable Axelspace to capture daily monitoring data anywhere on the Earth.
May 13, 2021
With just over two months to go before the Tokyo Olympics, a new report evaluating environmental and climate-related threats facing the world’s urban centers says the capital is among the cities that are most vulnerable to natural disasters.
According to the Cities@Risk outlook released by research firm Verisk Maplecroft on Wednesday, 99 of the world’s 100 riskiest cities are in Asia, including 37 in China and 43 in India. The report ranks 576 cities on their exposure to a range of environmental issues.
While Jakarta plagued by pollution, seismic activity and flooding topped the list, the report warned that 414 cities across the globe with a collective population of over 1.4 billion “are deemed to be at high or extreme risk from a combination of pollution, dwindling water supplies, extreme heat stress, natural hazards and vulnerability to climate change.”
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