GITAI Secures Series B Extension Funding to Accelerate Space Robotics Development

WHO

GITAI USA Inc. and GITAI Japan Inc. (GITAI) are the world's leading space robotics company focused on providing safe and affordable labor in space. GITAI aims to reduce operational costs by 100 times and is developing highly capable robots for satellite construction, space station maintenance, lunar base development, and Mars city infrastructure.

WHAT

GITAI has successfully completed a Series B Extension funding round, raising approximately US$30 million (4 billion yen) to drive business and technology development in the United States. The funds will primarily be used to enhance the Technology Readiness Level (TRL) of GITAI's Lunar Robotic Rover and Lunar Inchworm Type Robotic Arm, expand manufacturing facilities for engineering models and flight models in the US, and support the further expansion of employment opportunities.

WHY

With the advancements made by companies like SpaceX and Blue Origin in reducing the cost of space transportation, GITAI aims to tackle the challenge of reducing labor costs by 100 times. By providing affordable and efficient labor in space, GITAI aims to contribute to the construction of infrastructure on the Moon and Mars, including solar panels, communication antennas, fuel generators, and habitation modules.

FUNDING

In this funding round, GITAI raised funds through a third-party allotment, primarily from existing investors and companies including Global Brain CVC Funds, JGC MIRAI Innovation Fund, KURONEKO Innovation Fund, KDDI Open Innovation Fund, and several others. The participation of these investors demonstrates their continued confidence in GITAI's space robotics solutions and its potential for growth in the industry.

KEY TAKEAWAY

The successful funding round of US$30 million enables GITAI to further develop their space robotics technologies and expand their operations in the United States. By focusing on reducing labor costs in space, GITAI aims to play a crucial role in the construction and maintenance of infrastructure on celestial bodies. The strong support from existing investors highlights the industry's recognition of GITAI's leadership in the space robotics sector. As space exploration and utilization continue to grow, GITAI is well-positioned to contribute to the future of space labor and the development of sustainable space-based infrastructure.