# Pale Blue

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pale-blue

- Industry: Aerospace
- Headquarters: Kashiwa-shi, Japan
- Website: www.pale-blue.co.jp
- Total disclosed funding: $31M
- Latest round: Series C (Aug 7, 2025)
- Investors on record: 12

## About

Based in Chiba, Japan, and founded in 2020 by CEO Jun Asakawa, Hiroyuki Koizumi, Kazuya Yaginuma, Yuichi Nakagawa, Pale Blue Inc., operates as a provider of water-based thrusters for the aerospace industry.The company's product lineup includes several thruster models designed for various satellite sizes and needs. The PBR series offers options for small satellites, including 3U-6U cubesats and microsats, with varying thrust capabilities. The PBI thruster, suitable for nanosats and microsats, provides up to 7,000 Ns total impulse. Additionally, the Water Hall-effect Thruster is designed for smallsats up to 700 kg. ?In August 2025, Pale Blue Inc. ?raised ?JPY 1.5 billion ?in?series C funding ?from new investor? Nissay Capital, with participation from returning investors aSTART, Mitsui Sumitomo Insurance Venture Capital, ITOCHU Technology Ventures and Global Brain. Other unspecified investors also participated in the round. The company plans to use its proceeds from August  2025 funding to enhance its production and quality systems.

## Funding rounds

- Series C, Aug 7, 2025, $9.9M — Mitsui Sumitomo Insurance Venture Capital, ITOCHU Technology Ventures, Global Brain, Nissay Capital, aSTART
- Series B, Jun 4, 2024, $13M — ITOCHU Technology Ventures, Global Brain, Joyo Capital Partners, Chibagin Capital, Gogin Capital, YMFG Capital, aSTART, Sumisho Venture Partners
- Series B, Oct 5, 2023, $2.9M — Mitsui Sumitomo Insurance Venture Capital, Incubate Fund
- Series A, Oct 28, 2021, $4.1M — Mitsui Sumitomo Insurance Venture Capital, Global Brain, SPARX Group, Incubate Fund
- Seed, Oct 21, 2020, $0.6M — Mitsui Sumitomo Insurance Venture Capital, Incubate Fund

## Investors

- Mitsui Sumitomo Insurance Venture Capital (https://capitalatlas.ai/funds/mitsui-sumitomo-insurance-venture-capital) — Seed, Series A, Series B, Series C
- Incubate Fund (https://capitalatlas.ai/funds/incubate-fund) — Seed, Series A, Series B
- Global Brain (https://capitalatlas.ai/funds/global-brain) — Series A, Series B, Series C
- SPARX Group (https://capitalatlas.ai/funds/sparx-group) — Series A
- ITOCHU Technology Ventures (https://capitalatlas.ai/funds/itochu-technology-ventures) — Series B, Series C
- Joyo Capital Partners (https://capitalatlas.ai/funds/joyo-capital-partners) — Series B
- Chibagin Capital (https://capitalatlas.ai/funds/chibagin-capital) — Series B
- Gogin Capital — Series B
- YMFG Capital (https://capitalatlas.ai/funds/ymfg-capital) — Series B
- aSTART (https://capitalatlas.ai/funds/astart) — Series B, Series C
- Sumisho Venture Partners (https://capitalatlas.ai/funds/sumisho-venture-partners) — Series B
- Nissay Capital (https://capitalatlas.ai/funds/nissay-capital) — Series C