Space Robotics Startup GITAI Raises US$30 Million in Funding

TORRANCE, Calif., May 24, 2023 /PRNewswire/ -- GITAI USA Inc. and GITAI Japan Inc. (GITAI), the world's leading space robotics company, has completed a Series B Extension round of funding totaling 4 billion yen (approximately US$30 million) to accelerate and expand their business and technology development in the US.

The funds raised in this round will be primarily used to achieve the following objectives:

• Enhancing the Technology Readiness Level (TRL) of GITAI's Lunar Robotic Rover and Lunar Inchworm Type Robotic Arm.
• Expanding the Engineering Model/Flight Model Manufacturing Facilities in the US.
• Further expansion of employment in the US.

"We are thrilled to further expand our operations in the US," said Sho Nakanose, GITAI's Founder & CEO. "While SpaceX and BlueOrigin are reducing the cost of transportation to space by 100 times, we at GITAI are taking on the challenge of reducing labor costs by 100 times. We will provide the most labor for the Moon and Mars and build infrastructure such as solar panels, communication antennas, fuel generators, and habitation modules."

In this round, GITAI raised funds through a third-party allotment from the following companies and funds, mainly from existing investors:

• Global Brain CVC Funds
• EP-GB L.P. (SEIKO EPSON CORPORATION / Epson X Investment Corporation / Global Brain Corporation)
• JGC MIRAI Innovation Fund L.P. (JGC JAPAN CORPORATION / JGC HOLDINGS CORPORATION / Global Brain Corporation)
• KURONEKO Innovation Fund L.P. (YAMATO HOLDINGS CO., LTD. / Global Brain Corporation)
• KDDI Open Innovation Fund III L.P. (KDDI CORPORATION / Global Brain Corporation)
• DCI Venture Growth Fund (Daiwa Corporate Investment Co., Ltd.)
• The Dai-ichi Life Insurance Company, Limited
• ANRI III Investment Limited Partnership
• ANRI I-II-III Annex Investment Limited Partnership
• NVC No.1 Limited Liability Partnership (NVenture Capital / NEC Capital Solutions Limited)
• JIC Venture Growth Fund 2 Investment Limited Partnership (JIC Venture Growth Investments Co., Ltd.)
• Electric Power Development Co.,Ltd.?J-POWER?
• Mitsubishi UFJ Capital ?, Limited Partnership (Mitsubishi UFJ Capital Co., Ltd.)

About GITAI:
GITAI is the world's leading space robotics startup, aiming to provide safe and affordable labor in space and reduce operational costs by 100 times. GITAI is developing highly capable, safe, and reliable robots to help build and maintain satellites, space stations, lunar bases, and cities on Mars.

Company: GITAI USA Inc. (Los Angeles), GITAI Japan, Inc. (Tokyo)
CEO: Sho Nakanose
URL: https://gitai.tech/
Contact Us: [email protected]
Phone: 424-587-1787

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SOURCE GITAI USA, Inc.