Synspective Inc., a SAR satellite data and solutions provider, has raised $100 million (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 $200 million (22.8 billion yen) since the founding of the company.
Synspective Inc. develops and operates high-frequency, high-resolution SAR (Synthetic Aperture Radar) satellites to provide data analytics and solution services. We aim to establish a constellation of 30 SAR satellites around 2026, that enable wide-area, high-frequency earth observation.
Synspective will use the new capital for the development, manufacturing, launch and operation of our SAR satellites, preparation of mass production facilities, development of satellite data solutions, and global expansion with the aim of further business growth. * Compared to the 2021 total funding ranking in the [2021 Complete Edition] Domestic Startup Investment Trend Report by For Startups Inc., it is supposed to be ranked within the top ten largest startups in Japan.
Dr. Motoyuki Arai, Synspective founder and CEO, said, “We are very grateful for the opportunity to welcome new investors and collaborative partners to expand our business more strongly and globally. Taking the fact that we were able to raise funds beyond the series A funding round as a great expectation and trust from our investors, partners as well as the public, we will further accelerate the expansion of a thirty SAR satellite constellation and enhance our data analysis technology to realize a “learning world” for a sustainable future.”