Charter Space raises $5 million

El Segundo-based Charter Space has raised $5 million in a seed round that brings its total funding to $8 million.

The company launched its nationally-licensed insurance brokerage, Charter Interplanetary Risk Corporation, in May 2026. It says it serves more than 50 companies across the US space and defense industrial base, helping them secure commercial insurance and specialty space asset coverage. Its backlog represents more than $35 million in gross written premiums.

Charter Space plans to use the funding to expand distribution, grow its sales team, and broaden its insurance offerings. Target areas include in-space servicing, space-based nuclear power, and lunar resource utilization, with coverage spanning pre-launch transport and testing, launch, and post-separation operations.

The funding comes as insurance capital is also reaching the space infrastructure Charter aims to insure. Recent investments include Convex Group’s backing of satellite manufacturer and services provider Open Cosmos, Munich Re Ventures’ investment in satellite servicing company Starfish Space, and investments by MS&AD entities in satellite propulsion startup Letara and satellite imagery company QPS Holdings. Finnish pension insurers Ilmarinen and Varma also participated in funding for microsatellite manufacturer ICEYE.