Space Robotics Startup GITAI Closes Series B Extension Round
Space Robotics Startup GITAI Closes Series B Extension Round
Raises an Additional $15 Million
Space robotics startup company GITAI USA Inc. and GITAI Japan Inc. (GITAI), has raised an additional US$15 million for the Series B Extension round. Combined with the US$30 million funding announced in May of this year, the total amount of the Series B Extension round is now US$45 million.
The additional funds raised in this round will be primarily used to achieve the following objectives:
Business expansion in the U.S.
Partial coverage of the lunar surface demonstration
In this round, GITAI raised funds through a third-party allotment from the following companies and funds:
Green Co-Invest Investment Limited Partnership
Pacific Bays Fund 1 & 1A Investment Limited Partnerships (Pacific Bays Capital)
MSIVC 2021V Venture Capital Investment Limited Partnership (MITSUI SUMITOMO INSURANCE Venture Capital Co., Ltd.)
Additionally, GITAI secured funds through a loan from MUFG Bank, Ltd.
In July, GITAI announced the successful completion of lunar environment testing for the major components of the in-house developed lunar Inch-worm type robotic arm.
GITAI’s mission is to provide safe and affordable means of labor in space, and as part of this endeavor, GITAI has designed and engineered the lunar Inch-worm type robotic arm and the lunar robotic rover entirely in-house. GITAI has implemented seven essential lunar environment measures for the main components of the lunar Inch-worm type robotic arm