Astroscale raises US$235.4M to scale up on-orbit servicing
What's the deal? Tokyo-based satellite servicing company Astroscale raised US$235.4M to fund its shift from technology demonstrations to repeatable commercial missions.
The post-IPO equity round drew Japanese real estate firm HulicDealroom has a profile for this one. Try Dealroom → and satellite operator Sky Perfect JSATDealroom has a profile for this one. Try Dealroom →.
Astroscale plans to spend US$53.8M expanding production facilities in Japan and the UK, another US$53.8M building its LEXI-P satellite life-extension spacecraft, and the rest as working capital.
Why now? The company wants to lock in a first-mover edge in on-orbit servicing, a field where early track records win long-term contracts, chief executive Nobu Okada said.
Demand from defense customers has "rapidly accelerated" since late 2024, particularly for space domain awareness and spacecraft refuelling.
Astroscale has missions in development across Japan, the UK, and the US, including a refuelling mission for the US Space ForceDealroom has a profile for this one. Try Dealroom →, all scheduled to launch by 2028.
What could go wrong? Profitability remains distant. Astroscale posted a US$76.9M operating loss in its 2026 fiscal year, an improvement on the prior year's US$144.6M loss but still deep in the red.
It expects losses of US$69.2M to US$76.2M in the 2027 fiscal year, even as project income roughly doubled to US$88.5M and is forecast to grow further.
"While we expect steady revenue growth, we also expect operating losses to remain at a similar level to the previous fiscal year," Okada said.
The signal: The round leans on corporate backers rather than venture money — Hulic and SKY Perfect JSAT are both strategic, corporate investors, the latter a satellite operator with a direct stake in on-orbit servicing. For a late-stage company still posting heavy losses, that pattern points to a market being built around long-term industrial and defence partnerships rather than quick returns.
Read more: SpaceNews
