Photo by Synspective

Synspective has secured another 7 billion yen ($44.1 million) in a Series C funding round. The Japanese synthetic aperture radar (SAR) satellite data and analytics solutions provider, will use the money to accelerate its global business expansion. The company announced the financing, June 20.

The latest round of funding was led by Japan Growth Capital Investment, managed by Nomura SPARX Investment, and Investment Limited Partnerships operated by JAFCO Group, and Investment Limited Partnerships operated by Mizuho Capital, among others.

Earlier this year, the company launched its fourth SAR satellite, StriX-3, successfully reaching its target orbit. It aims to establish a constellation of 30 SAR satellites by the late 2020s, enabling the company to observe changes anywhere on Earth. Synspective also recently signed a 10-launch deal with Rocket Lab to deploy its constellation.

“This financing will accelerate our global business expansion, which we aim to fully realize by the end of this year with the start of mass production at our plant and the enhancement of our satellite constellation. We sincerely appreciate the trust our investors have placed in us. We will continue to work with a sense of mission to make human economic activities sustainable with solutions that respect the global environment and resources,” Motoyuki Arai, Synspective founder and CEO, said in a statement.