Pale Blue, a Japanese space drive startup, has gotten a further $7.5 million (1 billion yen) in financing, the organization reported Oct. 5. The organization likewise reported that it had has been chosen by NEDO, a public innovative work office in Japan, for its Profound Deep Tech Startups (DTSU) support program – DMP stage (Exhibit improvement for Large scale manufacturing).
Pale Blue will presently set up another creation office while improving drive framework plan for large scale manufacturing. Light Blue’s Series B financing was finished with Mitsui Sumitomo Protection Funding and Hatch Asset, long haul financial backers in the organization.
With the Series B round of funding now set up, Light Blue expects to additionally speed up Research and development of impetus frameworks for little satellites. Moreover, following the effective in-circle activity of its water-based drive framework in Walk 2023, the organization will increase the group and set up a creation office. The organization was established in 2020, and is one to watch in the Japanese space area.
“Through the awarded DTSU program, we will accelerate R&D work to establish mass production technology and will install necessary production equipment. Water-based propulsion systems will contribute to the sustainable development of the space industry. We will continue to develop new technologies and create mobility infrastructures that are core to the space industry,” Jun Asakawa, CEO and co-founder of Pale Blue said in a statement.