Friday, May 26, 2023

GITAI Gets $30M For Space Robotics

GITAI, a space robotics startup which recently set up a U.S. headquarters in Torrane, said this week it raised $30M in funding. According to the company, the Series B Extension round of funding totaled 4 billion yen, or approximately $30M US. The company said it will use the funding for its lunar robotic rover and lunar "inchworm" robotic arm, expand its engineering model and flight model manufacturing facilities in the US, and to further expand employment in the US. The company says it is working on technology to provide labor for the Moon and Mars to build "infrastructure such as solar panels, communication antennas, fuel generators, and habitation modules." The funding came from Global Brain CVC Funds (Seiko Epson, JGC Japan, Yamato Holdings, KDDI), DCI Venture Growth Fund (Daiwa), The Dai-ichi Life Insurance Company, ANRI, NVenture Capital (NEC), JIC Venture Growth Investments, J-POWER, and Mitsubishi UFJ Capital.