Axelspace satellite buses. Photo: Axelspace

Axelspace, a Japanese Earth observation provider and smallsat manufacturer, has raised new funding and is partnering with new Japanese venture Space Compass on its Space Integrated Computing Network. 

Axelspace announced the new funding on Wednesday, from Space Compass Corporation, Development Bank of Japan, Tokio Marine Holdings, and Mitsubishi UFJ Capital. Axelspace did not disclose terms of the funding. 

The company formed a business alliance with Space Compass, a recently formed joint venture between Sky Perfect JSAT and Japanese telco NTT. Space Compass plans to build a new non-terrestrial network (NTN) combining HAPS, Geostationary Orbit (GEO) and Low-Earth Orbit (LEO) satellites for its Space Integrated Computing Network.

Axelspace has agreed to contribute its LEO satellite technology to the project, and for its future satellites to utilize the optical data relay communication network the project plans to build. 

“We are extremely honored to be able to partner with Axelspace, a leading company in Japan’s Earth observation and microsatellite manufacturing service. The optical data relay network that Space Compass is building is a solution that solves the challenges that many Earth observation satellite operators have, in both the government and private sector. We will continue to work with various operators toward our service launch in 2024,” commented Koichiro Matsufuji, co-CEO of Space Compass Corporation. 

Separately, Axelspace entered a business alliance with multinational insurance company Tokio Marine Holdings. Axelspace is partnering with its member company Tokio Marine & Nichido Fire Insurance Co., Ltd. to provide space insurance to its space as a service customers. They have also agreed to consider using Axelspace EO data for various insurance products. 

“We are extremely pleased to announce our business partnership with Space Compass and Tokio Marine Holdings,” commented Axelspace CEO Yuya Nakamura. “Through this partnership, we will continue our efforts to bring our vision of ‘Space within Your Reach’ closer to reality as quickly as possible.”