mu Space Corp, a new space startup based in Thailand seeking to provide satellite services, has just announced it is targeting to raise at least 300 million THB (US$9.2 million) in 2018.
The company, established in 2017, already has a capital of about 100 million THB (US$3.07m) from a partnership with an unnamed private company in Thailand. For the round in 2018, mu Space will be looking for investors both domestically in Thailand and internationally.
James Yenbamroong, Founder and CEO, said that the company cannot provide much information on the round at the moment.
“[Right now] information in scarce,” he said, adding that the company will reveal more in the coming months.
This news a month after mu Space was awarded a license to operate a satellite service by Thailand’s National Broadcasting and Telecommunications Commission, becoming the first startup to do so. This will allow mu Space to operate a satellite and provide satellite-based services until 2032.
Earlier, during the International Astronautical Congress (IAC) 2017, mu Space signed a deal with Blue Origin to become the first Asian customer. mu Space’s satellite, under the contract, will be launched by Blue Origin’s orbital rocket New Glenn in 2021.
