Synspective raises $100 million
Synspective, a SAR satellite data and solutions provider, has raised $100 million in equity and debt from a group of investors including Sompo Japan Insurance, Nomura SPARX Investment, and Pavilion Capital Pte. To date, the Tokyo-based startup has raised over $200 million.
Founded in 2018, Synspective develops and operates high-frequency, high-resolution synthetic aperture radar satellites to provide data analytics and solution services. Some of the use cases include flood damage assessment, facilities monitoring, and more.
“With a slogan “A Theme Park for Security, Health & Wellbeing”, Sompo Japan Insurance has been committed to create a society in which every person can live a healthy, prosperous and happy life in one’s own way. Taking the opportunity of the capital tie-up with Synspective, we will cooperate to create social value through the new services development that deliver peace of mind to our customers, those who are affected by a disaster, as soon as possible by encouraging them to make insurance claims.” – Masachika Nakao, managing executive 0fficer, Sompo Japan Insurance.
“We believe that Synspective is an excellent startup that has realized the development and launch of their SAR satellites expeditiously since establishing in 2018. The company continues to accelerate commercialization and is preparing for further global expansion. We expect Synspective to effectively allocate capital from a long-term perspective and improve the lives of people around the world through data acquisition and effective utilization of small SAR satellites.” – Ichitaro Akita, chief investment officer, Nomura SPARX Investment.
“We are very grateful for the opportunity to welcome new investors and collaborative partners to expand our business more strongly and globally. Taking the fact that we were able to raise funds beyond the series A funding round as a great expectation and trust from our investors, partners as well as the public, we will further accelerate the expansion of a thirty SAR satellite constellation and enhance our data analysis technology to realize a “learning world” for a sustainable future.” – Dr. Motoyuki Arai, Synspective founder and CEO.
