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Business

Space debris remover snags $35m in investments

TOKYO -- Astroscale, a Japanese-led, Singapore-based startup planning to use satellites to remove space debris, will receive up to $35 million in capital from two Japanese concerns, according to an announcement Tuesday.

     The public-private investment fund Innovation Network Corp. of Japan will contribute up to $30 million, while venture capital firm Jafco will provide as much as $5 million.

      Astroscale was established in 2013 by Nobu Okada, who serves as CEO. It will use the funds to work on satellites for monitoring and removing debris, which are slated to launch between the latter half of this year and the first half of 2018.

(Nikkei)

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