Synspective Raises $100M in Series B Funding Round

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TOKYO, 2022, March 29 – 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.

Background and purpose of financing

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.

Investors:(random order

  • Sompo Japan Insurance Inc. (Tokyo, Japan)
  • Mori Trust Co. Ltd. (Tokyo, Japan)
  • Japan Growth Capital Investment Corporation managed by Nomura SPARX Investment, Inc. (Tokyo, Japan)
  • Pavilion Capital Pte. Ltd.(Singapore)
  • Space Frontier Fund operated by SPARX Innovation for the Future Co., Ltd. (Tokyo, Japan)
  • JAFCO Group Co., Ltd. and its Investment Limited Partnership (Tokyo, Japan)
  • Japan Co-Invest III LP operated by Sumitomo Mitsui Trust Investment Co., Ltd.(Tokyo, Japan)
  • SBI Group (Tokyo, Japan)
  • Nikon-SBI Innovation Fund (Tokyo, Japan)
  • Shinsei Venture Partners Ⅱ Investment Limited Partnership operated by Shinsei Corporate Investment Group (Tokyo, Japan)
  • Japan Post Capital Co.,Ltd. (Tokyo, Japan)
  • AS aSTART 1 Limited Partnership operated by aSTART Co., Ltd. (Tokyo, Japan)
  • EEI Fund 4 Investment Limited Partnership operated by Energy & Environment Investment, Inc. (Tokyo, Japan)
  • Abies Ventures Fund I, L.P. operated by Abies Ventures, Inc. (Tokyo, Japan)
  • Mizuho Growth Fund No.3 Limited Partnership operated by Mizuho Capital Co., Ltd. (Tokyo, Japan)

Loan Source

  • The Shoko Chukin Bank, (Tokyo, Japan)
  • MUFG Bank, Ltd.(Tokyo, Japan)

 

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