Skip to main content

Synspective Secures 7 Billion Yen in Series C Funding

By Eric Van Rees - 20th June 2024 - 10:26

Synspective, a Synthetic Aperture Radar (SAR) satellite data and analytics solutions provider, has announced the successful raise of 7 billion yen in a Series C funding round.

The latest funding was led by Japan Growth Capital Investment Corporation, managed by Nomura SPARX Investment, Inc., and Investment Limited Partnerships operated by JAFCO Group Co., Ltd. and Investment Limited Partnerships operated by Mizuho Capital Co., Ltd., among others. Since our founding, our total funding for third-party allotment has been 28.1 billion yen and 8.3 billion yen for loan contracts.

■ Background and Purpose of Financing
Synspective develops and operates high-frequency, high-resolution SAR satellites to provide data analytics and solution services. On March 13, 2024, we launched our fourth SAR satellite, StriX-3, successfully reaching its target orbit and spreading its wings. We aim to establish a constellation of 30 SAR satellites by the late 2020s, enabling us to observe changes anywhere on Earth.

Synspective will use the new capital to develop, manufacture, launch, and operate our SAR satellites, prepare mass production facilities, develop satellite data solutions, and expand globally, driving further business growth.

■ Investors’ Comments
Mr. Shinji Naito, Representative Director, Chairman and Co-CEO, Nomura SPARX Investment, Inc.
“We consider that society’s demands for the data and solutions provided by Synspective have increased in various fields, such as social infrastructure management, disaster prevention and mitigation, and security, since our initial investment in 2022. We expect that Synspective will continue to efficiently allocate capital to improve the lives of people around the world through data acquisition and utilization of small SAR satellites. Additionally, we anticipate that Synspective will grow over the medium term as a global company.”

Mr. Kunio Handa, President and Representative Director, Mizuho Capital Co., Ltd.
“The space industry is an area in which Japanese companies can demonstrate their global strength. In particular, satellite data is increasingly needed for security and disaster countermeasures. As the global leader in small SAR satellites, Synspective has steadily developed and successfully launched four satellites and now provides advanced data analysis solutions. Mizuho Capital has invested in the company several times since its early days and has supported its business growth. We have also invested in the company through Growth Partners No. 1 and Growth Support No. 4, expecting it to continue showing tremendous potential. Mizuho Group will continue to support Synspective with its fullest strength.”

Read More: Satellite Imaging Aerospace

Subscribe to our newsletter

Stay updated on the latest technology, innovation product arrivals and exciting offers to your inbox.