JAXA & Mitsui Sumitomo Insurance to Cooperate on Developing Space Travel Insurance Business

TOKYO (JAXA/Mitsui Sumitomo Insurance Co. PR) –– Sumitomo Mitsui Marine Fire Insurance Co., Ltd. (President: Shinichiro Funabuchi) of MS & AD Insurance Group and Japan Aerospace Exploration Agency (JAXA, Chairman: Hiroshi Yamakawa) aim to create space-related businesses with new ideas. Under the framework of “JAXA Space Innovation Partnership (J-SPARC)”, we started co-creation activities related to “Space Travel Insurance Business” in July 2022.

Details of co-creation activities

Currently, insurance for space travel is not yet in full swing. The reason is none other than the small number of space travelers. Under such circumstances, 2021 was called the “first year of space travel,” and for the first time in history, the number of space travelers exceeded the number of professional astronauts. Now that space travel by various means has been realized or proposed, space travel insurance that meets the needs is required. Sumitomo Mitsui Marine and JAXA are co-creating activities related to “product development of space travel insurance” and “support for expanding the space travel market”, and by creating and disseminating the “space travel insurance” that is now needed. It adds peace of mind to space travel and contributes to the expansion of humankind’s economic sphere.

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Japanese Space Industry Startup “Synspective” Raises US $100 Million in Funding

Synthetic aperture radar satellite (Credit: Synspective)

TOKYO, 29 March 2022 (Synspective PR) – Synspective Inc., a SAR satellite data and solutions provider, announced that the company has raised US $100M (11.9 billion yen) including a Series B funding round. The latest funding was led by Sompo Japan Insurance Inc. (Tokyo, Japan), Nomura SPARX Investment, Inc. (Tokyo, Japan), and Pavilion Capital Pte. Ltd. (Singapore) among others, as well as bank loans, and it is supposed to be ranked within the top ten largest startups in Japan. This puts our total funding value at US $200M (22.8 billion yen) since our founding.

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Axelspace Closes Series C Funding Round with $23.8 Million Raise

Daily monitoring of the world to be realized with 10 satellite-constellation

TOKYO (Axelspace PR) — Axelspace Holdings Corporation today announces that the company completed its Series C funding round raising approximately JPY 2.58 billion (equivalent to USD 23.8 million). The round sees the allocation of new shares to The Space Frontier Fund, several other venture capitals and corporate investors.

Major Accepting institutions

  • The Space Frontier Fund
    (Managed by SPARX Innovation for Future Co., Ltd.)
  • Japan Co-Invest III Limited Partnership
    (Managed by Sumitomo Mitsui Trust Investment Co., Ltd.)
  • Japan Post Investment I, ILP
    (Managed by Japan Post Investment Corporation)
  • 31VENTURES – Global Brain – Growth I Joint Project
    (Managed by Mitsui Fudosan Co., Ltd. and Global Brain Corporation)
  • KYOCERA Corporation
  • Mitsubishi UFJ Capital VII, Limited Partnership
    (Managed by Mitsubishi UFJ Capital Co., Ltd.)
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ispace Raises $28 Million in Series B Funding, Announces Lunar Data Business

HAKUTO-R lander. (Credit: ispace)

Cumulative total investment reaches approximately $125 million USD

TOKYO, August 20, 2020 (ispace PR) – Today, ispace, inc. (ispace), along with IF SPV 1st Investment Partnership (managed by Incubate Fund) as the lead investor, Space Frontier Fund (managed by Sparks Innovation for Future, Inc.), Takasago Thermal Engineering Co., Ltd., and Mitsui Sumitomo Insurance Co., Ltd., announced that ispace raised approximately $28 million (USD) [1] from the four organizations for its Series B investment round.

This brings ispace’s cumulative total investment to approximately $125 million (USD) [2], including its Series An investment of approximately $95 million (USD), as well as its seed investment.

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SPARX Group Establishes Space Frontier Fund to Foster Japanese Space Industry

TOKYO, June 29, 2020 (SPARX Group PR) — SPARX Innovation for the Future Co., Ltd. (SIF)—a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)—today announced that it established the Space Frontier Fund. The Fund primarily aims to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan.

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