TOKYO, 2024, June 20th – Synspective Inc., a Synthetic Aperture Radar (SAR) satellite data and analytics solutions provider, has announced the successful raise of 7 billion yen in a Series C funding round. The latest funding was led by Japan Growth Capital Investment Corporation, managed by Nomura SPARX Investment, Inc., and Investment Limited Partnerships operated by JAFCO Group Co., Ltd. and Investment Limited Partnerships operated by Mizuho Capital Co., Ltd., among others. Since our founding, our total funding for third-party allotment has been 28.1 billion yen and 8.3 billion yen for loan contracts.
Background and Purpose of Financing
Synspective develops and operates high-frequency, high-resolution SAR satellites to provide data analytics and solution services. On March 13, 2024, we launched our fourth SAR satellite, StriX-3, successfully reaching its target orbit and spreading its wings. We aim to establish a constellation of 30 SAR satellites by the late 2020s, enabling us to observe changes anywhere on Earth.
Synspective will use the new capital to develop, manufacture, launch, and operate our SAR satellites, prepare mass production facilities, develop satellite data solutions, and expand globally, driving further business growth.
Investors (Random Order)
Investors’ Comments
Mr. Shinji Naito, Representative Director, Chairman and Co-CEO, Nomura SPARX Investment, Inc.
“We consider that society’s demands for the data and solutions provided by Synspective have increased in various fields, such as social infrastructure management, disaster prevention and mitigation, and security, since our initial investment in 2022. We expect that Synspective will continue to efficiently allocate capital to improve the lives of people around the world through data acquisition and utilization of small SAR satellites. Additionally, we anticipate that Synspective will grow over the medium term as a global company.”
Mr. Kunio Handa, President and Representative Director, Mizuho Capital Co., Ltd.
“The space industry is an area in which Japanese companies can demonstrate their global strength. In particular, satellite data is increasingly needed for security and disaster countermeasures. As the global leader in small SAR satellites, Synspective has steadily developed and successfully launched four satellites and now provides advanced data analysis solutions. Mizuho Capital has invested in the company several times since its early days and has supported its business growth. We have also invested in the company through Growth Partners No. 1 and Growth Support No. 4, expecting it to continue showing tremendous potential. Mizuho Group will continue to support Synspective with its fullest strength.”
Mr. Kazumasa Watanabe, Representative Director and CEO, aSTART Co., Ltd
“The supply of SAR satellite data is currently limited amidst increasing worldwide demand, and experts expect this field to grow dramatically. Synspective has already successfully launched and operated four SAR satellites and is now entering the phase of building a large constellation. In addition, Synspective is a unique technology group that provides advanced data analysis solutions. Since its establishment, we have been investing in the company and will continue to support it on its journey to change the world.”
Mr. Tetsuo Suzuki, President and Representative Director, Daiwa House Ventures Co., Ltd.
“The Daiwa House Group, as a ‘Value Creation Group for People, Towns, and Lifestyles,’ promotes safe and secure urban development, mainly in housing, construction, and real estate. In response to recent climate change, which has brought severe rainfall disasters and prompted a review of damage assumptions for significant earthquakes, we are working with Synspective to create safe and secure communities. We are examining the possibility of using SAR satellites in construction, civil engineering, disaster prevention, and implementing complex measures to prevent disasters and strengthen national land infrastructure.”
Comments from Dr. Motoyuki Arai, Synspective founder and CEO
“With further support from our investors, Synspective will expand its business using SAR satellites and analytics, which have proven reliable. This financing will accelerate our global business expansion, which we aim to fully realize by the end of this year with the start of mass production at our plant and the enhancement of our satellite constellation. We sincerely appreciate the trust our investors have placed in us. We will continue to work with a sense of mission to make human economic activities sustainable with solutions that respect the global environment and resources.”
About Synspective Inc.
Synspective, established in 2018, is an end-to-end SAR satellite data and solution provider with the mission to realize a learning world for people to expand their capabilities and make tangible progress with new data and technologies. With a SAR satellite constellation that enables high-frequency and high-resolution Earth observation, Synspective delivers satellite data and various solutions that combine SAR and IoT data with machine learning and data science techniques.
