• Pale Blue

  Participated · Series C · Aug 2025

  Pale Blue designs, develops, and manufactures propulsion systems for small satellites, having demonstrated water‑based thrusters in space multiple times. The company was founded in 2020 and is headquartered in Kashiwa, Chiba. Its core product line focuses on reliable, scalable thrusters for global satellite operators, and it is expanding its portfolio to include Hall thrusters. Pale Blue plans to strengthen production and quality-management systems, establish a production‑technology development site, and scale hiring to meet growing demand. The company will continue R&D and space demonstrations to broaden its product lineup and validate new propulsion technologies. The recent Series C fundraise will support these commercialization and production efforts. Pale Blue is a University of Tokyo–spawned space startup based in Kashiwa, Chiba that researches, develops, and manufactures propulsion systems for small satellites. Its core products are an ultra‑small water ion thruster and a water Hall thruster, both using water as the propellant. The ultra‑small water ion thruster is an electric propulsion system for orbit control and orbital transfers offering higher fuel efficiency than chemical thrusters; the water Hall thruster uses a water‑Hall plasma acceleration effect to achieve high specific impulse with low power consumption. These thrusters are intended for small‑satellite orbit control and attitude control. Pale Blue aims to reduce small‑satellite operating costs, expand launch opportunities, and ultimately apply its technology to deep‑space missions such as lunar or Martian exploration. The company plans to continue development and manufacturing, pursue in‑space demonstrations, establish a production‑technology development base, and strengthen its organization. Pale Blue is a Tokyo-based small-satellite thruster developer focused on water-based propulsion, notably its Resistojet steam thruster. The company tested its Resistojet in orbit in March on a 6U cubesat called Star Sphere, using jets of steam for maneuvering. Pale Blue is building a 2,000-square-meter factory to mass-produce Resistojet thrusters sized for satellites under 10 kilograms and announced $7.5 million in funding in October to start production for customers including Yonsei University. Under a multiphase Japanese government SBIR-3 grant worth up to $27 million, Pale Blue aims to develop water-plasma propulsion and to scale its technology to service spacecraft up to 500 kilograms. The company plans to demonstrate water-fed ion and Hall-effect thrusters, which use electricity and magnetic fields to accelerate propellant, with a demo targeted around 2027–2028 and prototypes due by September 2025 for the first grant phase. Pale Blue positions water as a lower-cost, safer propellant alternative to xenon, though it acknowledges water cannot yet match xenon's thrust performance.

• Okuma Diamond Device

  Participated · Equity · Oct 2024

  ODD develops "pure diamond" semiconductor devices and amplifiers designed for extreme temperatures and radiation levels that silicon cannot tolerate. The company was spun out of Japan’s National Institute of Advanced Industrial Science and Technology (AIST) and Hokkaido University and was founded in 2021. ODD built the world’s first practical diamond chip in 2021 and has prototyped diamond semiconductor amplifiers operating under 300°C. Its technology targets nuclear decommissioning, aerospace, telco (including 6G), space, and defense markets; the company says it is talking with more than 10 potential customers worldwide. ODD claims end-to-end expertise from substrate to packaging and highlights methane-based production potential as a domestic supply advantage. The startup has 27 employees and plans to build the world’s first diamond semiconductor manufacturing facility in Ookuma, Fukushima, starting January 2025 with operations targeted for Summer 2026. The diamond materials market is cited in the article as forecast to grow notably by 2032. 大熊ダイヤモンドデバイス was founded in March 2022 by researchers from Hokkaido University and AIST together with serial entrepreneur Hoshikawa. The company is developing diamond semiconductor technology and a diamond neutron detection element intended as a core component of a critical proximity monitoring system for reactor decommissioning. Its technology has reached a level suitable as an element technology for devices to be deployed at decommissioning sites, and the firm aims to test an initial pre‑prototype device at the Fukushima Daiichi site in the near term. The company has been selected for multiple national projects, including a Reconstruction Agency/Fukushima Prefecture practical development program, NICT’s Beyond5G R&D promotion program, and the Cabinet Office’s SIP/BRIDGE program. Going forward, the company plans to accelerate R&D and hiring to pursue social implementation not only in decommissioning but also in communications satellites and next‑generation base stations. Its cumulative funding since founding, including grants, now totals ¥1.92 billion. Ookuma Diamond Device was founded in March 2022 based on research from Hokkaido University and the National Institute of Advanced Industrial Science and Technology (AIST). The company develops diamond semiconductors—positioned as an "ultimate" successor to silicon, SiC and GaN—and says it has reached practical amplifier‑level operation after more than a decade of research. Its technology was initially driven by needs arising from Fukushima Daiichi decommissioning and targets applications requiring tolerance to high temperatures and radiation. Expected use cases include beyond‑5G ultrafast communications infrastructure, electric aircraft, electric vehicles and electric ships as energy‑efficient power devices. The company was the sole startup selected for NICT’s Beyond 5G research promotion program and has received regional support from Fukushima prefecture programs. Following a ¥140M seed raise, the firm plans to accelerate R&D and ramp hiring to pursue social implementation of diamond semiconductor devices.

• Synspective

  Participated · Series C · Jun 2024

  Synspective develops and operates the StriX series of small SAR satellites (100kg-class) and provides SAR-based data analytics to governments and enterprises. Its SAR sensors use microwaves to enable all-weather, day-or-night observation, and the small-satellite approach reduces weight and costs versus traditional SAR platforms. The company offers analytics products including ground deformation monitoring (LDM), flood-damage assessment, and disaster-damage evaluation. Synspective launched its fourth small SAR satellite, StriX-3, on March 13, 2024, with successful orbit insertion, communications, and antenna deployment. It aims to build a 30-satellite constellation in the late 2020s to enable wide-area, high-frequency Earth observation. Financially, Synspective reported a Series C raise of ¥7.0 billion and cumulative funding of about ¥28.19 billion (281.9億円), and plans to use proceeds for satellite development, manufacture, launch and operations, mass-production facility preparation, and global expansion of its data solutions. Synspective is a Japanese startup that provides satellite data solutions using small Synthetic Aperture Radar (SAR) satellites. Its SAR data and solutions are used by governments and private companies. The company raised $100M in funding. It intends to use the funds to strengthen SAR satellite and solutions development and manufacturing systems. Synspective is led by co-founder and CEO Motoyuki Arai. Its core technology was developed under the ImPACT program led by the Cabinet Office of the Government of Japan, enabling the company to build small SAR satellites and a constellation to allow frequent observation of areas of interest.

• Astroscale

  Led · Series E · Oct 2020

  Astroscale develops and operates on-orbit servicing technologies focused on rendezvous and proximity operations, satellite refueling, life-extension (including its LEXI-P spacecraft) and end-of-life disposal. The company is transitioning from technology demonstrations toward repeatable commercial and defense missions, with planned missions in Japan, the U.K. and the U.S., including a refueling mission for the U.S. Space Force and a LEXI-P life-extension mission targeted in fiscal 2028. Financially, Astroscale reported ¥11.5 billion in project income for fiscal 2026 and an operating loss of ¥10 billion, an improvement from the prior year, and it projects project income of ¥12.5–17 billion for fiscal 2027 with operating losses of ¥9–9.9 billion. To support scaling, Astroscale raised ¥30.6 billion in May via convertible bonds and equity and plans to deploy capital to expand production facilities, manufacture LEXI-P spacecraft and provide working capital. Management says the investments aim to establish supply capacity to support repeatable business early while pursuing mid- to long-term profitability and making on-orbit servicing more routine by 2030.

No current team members are available.