GITAI Raises an Additional US$15.5 Million in Funding

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Nov 13, 2024, 08:33 ET

TORRANCE, Calif., Nov. 13, 2024 /PRNewswire/ -- GITAI USA Inc. (GITAI), the world's leading space robotics startup, is pleased to announce that GITAI has raised an additional US$15.5M as part of its Series B Extension round in October 2024. This follows US$30M raised in May 2023 and US$15M raised in August 2023, bringing the total in the Series B Extension round to US$60.5M.

GITAI Completes Fully Successful Technology Demonstration Outside the International Space Station (ISS)

The lead investor in this round is Maezawa Fund Inc., a venture capital fund established and operated by Japanese billionaire entrepreneur and commercial astronaut Yusaku Maezawa. Yusaku Maezawa commented, "GITAI's monumental challenge to reduce space development costs by 1/100 holds vast potential to expand the boundaries of our future. Achieving this will bring space closer to our daily lives and business, transforming it into a more accessible domain. We are genuinely excited to support GITAI in pioneering this new frontier."

To reduce the cost of space operations by 100 times, GITAI is developing robotic satellites for on-orbit services, lunar robotic rovers for infrastructure construction, and inchworm-type robotic arms that can be used in both areas. All of these technologies are being developed in-house.

In late 2023, GITAI relocated its headquarters from Japan to the United States, with all non-U.S. national management team members obtaining permanent resident status, officially establishing GITAI as a U.S.-based company. Since then, we have expanded our space robotics business and production capabilities in the U.S. space and defense market, achieving key milestones such as selection for NASA SBIR, orders from DARPA, a successful technology demonstration outside the ISS, AS9100 and NIST SP800-171 certifications, and the expansion of our headquarters and production facilities.
With this additional funding, GITAI aims to further advance on-orbit services and lunar infrastructure construction in the U.S. space and defense market and will continue to pursue reducing the cost of space operations by 1/100th of the current cost.

List of Investors in this Funding Round:

Existing Investors:

MSIVC 2023V Venture Capital Investment Limited Partnership (Mitsui Sumitomo Insurance Venture Capital Co., Ltd.)
Mitsubishi UFJ Capital Ⅸ, Limited Partnership (Mitsubishi UFJ Capital Co., Ltd.)
Green Co-Invest Investment Limited Partnership

New Investors:

Maezawa Fund Inc. (Venture capital fund of Japanese billionaire entrepreneur and commercial astronaut Yusaku Maezawa)
KCAP Venture Ⅰ Investment Limited Partnership (Kyoto Capital Partners Co., Ltd.)
Tycoon Capital No. 4 Limited Partnership

For more information about this groundbreaking project and our future plans for lunar exploration, please visit gitai.tech.

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About GITAI
GITAI aims to reduce the cost of labor in space by 100 times, thereby providing a safe and affordable means of work in space. GITAI operates in two business areas: on-orbit services and lunar infrastructure construction. For more on GITAI's products, services, and upcoming missions, visit GITAI.tech.

Media Contact
Company: GITAI USA Inc. (Headquarters) / GITAI Japan, Inc. (Japan Subsidiary)
CEO: Sho Nakanose
URL: https://gitai.tech/
Email: [email protected]
Phone: (424) 587-1787

SOURCE GITAI USA Inc.