Private equity news GITAI Raises an Additional $15M of Funding

GITAI Raises an Additional $15M of Funding

Gitai Raises Additional £15M in Funding for Space Robotics Development

GITAI, a Japan-based space robotics startup, has raised an additional $15 million in funding, bringing its total Series B extension round to $45 million after securing $30 million in May.

The funding round included equity from Green Co-Invest, Pacific Bays Capital, Mitsui Sumitomo Insurance, and a MUFG Bank loan. GITAI plans to use the funds to expand its US operations and support a lunar surface demonstration.

The company is developing a robotic workforce to perform maintenance, construction, and navigation tasks in orbit, as well as on the Moon and Mars.

GITAI is building two products, the Inchworm and Lunar Rover, to achieve its goal of slashing operational costs by a factor of 100.

GITAI Lunar rover

The Inchworm is a two-meter-long robotic arm designed to perform maintenance, repair, drilling, and welding in space. The arm can move along surfaces in a slinky-like walk. GITAI plans to launch the Inchworm to the International Space Station (ISS) on an upcoming mission and deploy the arm outside the Bishop Airlock.

The Lunar Rover is a rover to be used for lunar locomotion and resource extraction. The startup has been testing the vehicle in the Mojave Desert. After development and testing, the startup plans to combine the mechanical arm with the rover and launch the Moon’s first robot employee by 2026.

GITAI expanded into the US in June 2022 with the opening of an office in Los Angeles. The company recently completed its manufacturing setup and is ramping up hiring. The additional funds raised in this round will be primarily used for business expansion in the US and to partially cover the lunar surface demonstration.

The funding round is a testament to GITAI’s innovation in the field of space robotics and its potential to revolutionize the industry. The startup has attracted the attention of venture capital firms and private equity investors who are keen to support the development of robotics technology for space exploration.

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