Astroscale, a Japan-based orbital debris removal company, has raised $76 million in Series G funding. The Japanese firm is developing space technologies that can capture tumbling space debris and plans to expand its business beyond space debris removal with the Mitsubishi Electric partnership.

The company has raised more than $376 million since it was founded a decade ago by an IT entrepreneur Mitsunobu Okada in Singapore. The funding round was led by Mitsubishi Electric, with participation from Mitsubishi UFJ Bank, Mitsubishi Corporation, Development Bank of Japan, financial firm FEL Corporation, and new investor Yusaku Maezawa, the billionaire behind the private spaceflight project “dearMoon”.

Astroscale CEO and founder Nobu Okada said in a released statement: “The funds will significantly contribute to further innovative technology development, global expansion, and increased capacity to meet the growing demand.”

According to Aviation Week, Mitsubishi Electric invested $25 million in Astroscale’s Series G round. The Japanese manufacturing giant plans to collaborate with Astroscale on the development and manufacturing of satellite buses for Japanese national security constellations.

Founded in 2013, and based in Tokyo, Japan, Astroscale is developing a range of space technologies. That includes satellite end-of-life and space debris removal services. In March 2021, Astroscale launched the End-of-Life Services by Astroscale (ELSA) program, a spacecraft retrieval service for satellite operators.

Astroscale is also working on another debris-removal demonstration project as part of a contract with the Japan Aerospace Exploration Agency (JAXA). The project, which will be called Active Debris Removal by Astroscale-Japan (ADRAS-J), will be launched on a Rocket Lab Electron rocket sometime this year.

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