Space Shift Secures Additional Funding in Series B Investment Round

In a significant development for technology integration in the realms of space and AI, Space Shift, headquartered in Chiyoda, Tokyo, has successfully closed a second round in its Series B funding. This funding involves a third-party allotment of shares to notable partners including NI-WA Corporation, Nagase Industry Co., Ltd., and General Incorporated Association G・B. The total amount raised in this round has reached an impressive ¥730 million.

Background of the Funding

As the global landscape witnesses an increasing fusion of satellite data utilization and generative AI technologies, Space Shift has positioned itself at the forefront by advancing AI software technologies, predominantly centered around the analysis of Synthetic Aperture Radar (SAR) satellite data. This latest funding comes at a crucial time, allowing the company to accelerate its sales activities post-verification and strengthen collaborative frameworks within the industry, all aimed at expanding its footprint in the satellite data business both domestically and internationally.

Utilization of the Funds

The capital raised has multiple strategic uses that reflect the company's vision:

- Strengthening Corporate Framework: Enhancing research and development alongside talent acquisition to fortify management operations.
- Accelerating Business Development: Expanding operations both in Japan and globally.
- Developing New Analytical Algorithms: Innovating new algorithms tailored to meet customer demands.

Comments from Partner Companies

NI-WA Corporation

Shunsuke Shibata, a business strategy officer at NI-WA, highlighted the potential of collaborating with Space Shift. He emphasized that NI-WA aims to contribute to creating innovative solutions that leverage satellite data, combining their technologies with Space Shift’s prowess in satellite data analytics.

Nagase Industry CVC Fund

Kiyoshi Yoshida, representative director of Nagase Future Investments, commented on how Space Shift’s advanced satellite data analysis technology provides new perspectives that were previously unattainable. He emphasized the company’s mission of addressing manufacturing challenges through materials and their commitment to sustainable and safe societal advancement.

General Incorporated Association G・B

Chairman Takashita Sura expressed the transformative potential of SAR satellite data in addressing social issues like disaster prevention and environmental conservation. He underlined the capability of Space Shift’s technology to enhance local industries while fostering sustainable growth in partnership with regional governments and businesses.

CEO's Statement

Naoyuki Kanemoto, CEO of Space Shift, expressed immense satisfaction regarding the new contributions from dynamic business partners in this Series B round. He remarked on the critical shift occurring in space business, transitioning from investment to social implementation, especially in the satellite data application sector. He affirmed Space Shift’s role in showcasing possibilities of space utilization and promised to expedite the advancement of satellite data service applications and international expansion aided by this funding.

Future Developments

Looking ahead, Space Shift plans to broaden its collaborations with both private enterprises and municipalities worldwide significantly. The company is focused on accelerating the creation of a new societal infrastructure based on satellite data and AI. It aims to address urgent issues in urban development, agriculture, and infrastructure management in numerous countries and aims for a robust international expansion. An integral part of this strategy is the cross-industry cooperative program "SateBiz," designed to further implement satellite data in society, contributing to a resilient and sustainable future.

Company Overview

- Name: Space Shift Inc.
- CEO: Naoyuki Kanemoto
- Location: 1-6-1 Otemachi Building, Chiyoda, Tokyo
- Founded: December 11, 2009
- Capital: ¥703,990,750 (including capital reserves)
- Business Focus: Development of SAR satellite data analysis software, application in disaster prevention, agriculture, infrastructure, satellite data analysis system development, and various space-related research and consulting.
- Website: Space Shift

Inquiries

For further details, please contact:

- Contact Person: Naito, Tsudaya
- Email: [email protected]

This funding round marks an exciting phase for Space Shift, as it gears up to make significant advancements in the realm of satellite data analytics, setting new standards for the industry and paving the way for transformative solutions in various sectors.