SPACE WALKER Inc. raised an additional $4.5 million through convertible stocks and bonds, supplementing seed funding primarily from individual angel investors through March 2022. This brings the total amount of funds raised to nearly $10. million.
SPACE WALKER is a university-based startup that researches and develops winged, reusable, and suborbital space planes for sustainable space travel and transportation. The company envisions a future where everyone can travel between Earth and space as freely as aboard a commercial aircraft today.
In July 2021, the company launched the composite materials department. SPACE WALKER’s ultra-high pressure, lightweight and world-class composite vessels, developed for spacecraft, are attracting attention in space commerce as well as land, sea and air commerce as storage containers for the hydrogen, a key element to build supply chain platforms for a decarbonized environment. society.
The funds raised will be used for the technology demonstration of the suborbital space plane, the development of commercial aircraft and the capital investment in the newly launched composite materials business, as well as for working capital such as strengthening the personnel and advertising expenses associated with the above activities, for further business expansion.
CEO Akihide Manabe said that this fundraising has allowed the company to create a composites business direction, providing an opportunity to contribute to the current decarbonization momentum. SPACE WALKER’s suborbital spaceplane, under development, is a reusable rocket that will be propelled with clean fuel. The company will further refine its space technology to fulfill our role in society here on Earthーin the air, on land and at seaーand to become a company that will thrive for generations.