Japanese startup GITAI has raised an additional USD 15 million in a Series B funding round extension. The funding includes a USD 7 million loan from MUFG Bank and investments from Green Co-Invest Investment Limited Partnership, Pacific Bays Capital, and Mitsui Sumitomo Insurance Venture Capital. The company had previously raised USD 17 million in 2021 and USD 30 million in May, for a total of USD 62 million in funding.
The funding will be used to continue the development of space robotics systems and expand GITAI's presence in the US market. The company plans to expand its workforce, increase cooperation with government agencies and companies, and conduct a demonstration mission on the moon by 2026.
Analyst QuickTake: GITAI is working on a lunar rover and robotic arm for constructing infrastructure on the moon. The company has conducted tests in simulated lunar environments and plans to demonstrate a robotic arm on the International Space Station. The additional funding will support their development efforts and business expansion in the US market.
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