- Astroscale’s IPO raised $153M, valuing the space debris removal startup at $632M.
- Shares soared 51% on debut, with a market cap nearing $1B.
- Astroscale aims to make orbital cleanup routine by 2030.
Japan-based Astroscale, a spacetech startup tackling orbital debris removal and satellite servicing, recently made a splash on the Tokyo Stock Exchange.
The IPO raised US$153 million, valuing the company at US$632 million. Investors eagerly hopped aboard this celestial cleanup crew, sending post-IPO shares skyrocketing by 51% on day one.
Intergalactic garbage collectors
By the closing bell, Astroscale’s market cap was flirting with US$1 billion. Space debris, from defunct satellites to tiny paint flecks, clutters our orbital neighborhood.
Astroscale’s spacecrafts aim to tidy up this cosmic mess. The company claims to be the first space debris removal firm to go public and the third Japanese spacetech company to do so.
Investing in a junk-free future
Astroscale plans to pour IPO proceeds into project development and research.
The company recently closed a US$76 million series G round and has received grants from various sources.
CEO Nobu Okada aims to make on-orbit servicing routine by 2030, ensuring a cleaner, safer space environment.
To read the original article: https://www.techinasia.com/space-trash-collector-raises-632m-tokyo-ipo
