Startup
PBPale Blue
株式会社Pale Blue
#84 in the Japan Top 100 Startups
| Founded / HQ | 2020 · Kashiwa, Chiba |
|---|---|
| Equity raised to date | ¥4.56B “0.7億＋4.9億＋25億＋15億円” Summed by The Raising Sun from disclosed rounds · as of 2025-08 · Pale Blue (summed by us) |
| Last round | 2025-08 · Series C · ¥1.5B 15億円 |
| Latest public valuation | Not publicly disclosed (we do not estimate) |
| Unicorn | No |
| Website | pale-blue.co.jp |
From Japanese sources
Findings from Japanese-language filings, government records, trade press, interviews and job posts, with our English analysis. Items tagged Japanese-only had no English coverage when we checked quickly. Most insightful first.
| 2026-10-06 | Regulatory filingJapanese-onlyPale Blue moves to cancel its 2027 Hall-thruster flight-demo contract with Axelspace; Axelspace books a special loss （開示事項の経過）Pale Blue社との軌道上実証サービス提供契約に関する協議開始のお知らせ Pale Blue had booked a 2027 AxelLiner Laboratory slot to fly its fast-start Hall thruster. Listed Axelspace now discloses that Pale Blue sent written notice to cancel, citing technical issues with the Axelspace satellite. This pushes back Pale Blue's flight heritage, which it needs to sell thrusters, and it must find another ride. The news surfaced only through a partner's TSE filing. Source: TDnet (Axelspace Holdings, 402A) |
|---|
Overview
Pale Blue, a University of Tokyo spin-out, builds propulsion systems for small satellites that use water as propellant. It was founded in 2020 by Jun Asakawa. It has raised a seed round of ¥70M, a ¥490M Series A, a ¥2.5B Series B and a Series C of about ¥1.5B, about ¥4.56B in total.
Built from: Series C release
Company timeline
Founded
| Date | 2020-04· Pale Blue |
|---|---|
| Founders | Jun Asakawa |
Funding
| Date | Round | Amount | Lead / key investors | Source |
|---|---|---|---|---|
| 2020-10-21 | Funding | ¥70M 7000万円 | PR TIMES | |
| 2021-10-28 | Funding | ¥790M 7.9億円 | PR TIMES | |
| 2024-06-04 | Series B | ≈¥2.5B 25億円 | Company release | |
| 2025-08-07 | Series C | ≈¥1.5B シリーズC | Company release |
Key hires & board
None compiled yet.
Milestones
| 2026-01-30 | RecognitionSelected for Space Strategy Fund; starts small orbital transfer vehicle· PR TIMES |
|---|---|
| 2026-10-02 | RegulatoryObtains AS9100 aerospace quality certification· PR TIMES |
News
| 2026-10-07 | Pale Blue Awarded Additional SBIR Phase 3 Funding Pale Blue Awarded Additional SBIR Phase 3 Funding· Pale Blue |
|---|---|
| 2026-10-07 | Additional SBIR Phase 3 budget allocated Pale Blue、SBIRフェーズ3基金事業の予算の追加配分が決定· PR TIMES |
| 2026-10-06 | Pale Blue Initiates Discussions Regarding the In-Orbit Demonstration Services... Pale Blue Initiates Discussions Regarding the In-Orbit Demonstration Services...· Pale Blue |
| 2026-10-02 | Pale Blue Achieves AS9100 Certification for Aerospace Quality Management Syst... Pale Blue Achieves AS9100 Certification for Aerospace Quality Management Syst...· Pale Blue |
| 2026-10-02 | Obtains AS9100 aerospace quality certification 航空宇宙業界の品質マネジメントシステムAS9100の認証を取得· PR TIMES |
| 2026-07-27 | MEXT and JST Officials Visit Pale Blue Headquarters MEXT and JST Officials Visit Pale Blue Headquarters· Pale Blue |
| 2026-07-10 | Pale Blue Passes Stage-Gate Review for SBIR 3 Project Phase 2 Pale Blue Passes Stage-Gate Review for SBIR 3 Project Phase 2· Pale Blue |
| 2026-07-10 | Passes SBIR3 phase 2 stage-gate review Pale Blue、SBIR3の事業フェーズ2におけるステージゲート審査を通過· PR TIMES |
| 2026-05-29 | Pale Blue Featured in NASA's State-of-the-Art Small Spacecraft Technology Rep... Pale Blue Featured in NASA's State-of-the-Art Small Spacecraft Technology Rep...· Pale Blue |
| 2026-04-21 | Pale Blue Successfully Operates Water Ion Thruster and Water Resistojet Thrus... Pale Blue Successfully Operates Water Ion Thruster and Water Resistojet Thrus...· Pale Blue |
| 2026-04-08 | Pale Blue Hosts Unveiling Ceremony for Tsukuba Production Engineering Base ... Pale Blue Hosts Unveiling Ceremony for Tsukuba Production Engineering Base ...· Pale Blue |
| 2026-02-10 | Pale Blue Commences Operations at "Tsukuba Production Engineering Base" for M... Pale Blue Commences Operations at "Tsukuba Production Engineering Base" for M...· Pale Blue |
| 2026-02-10 | Tsukuba production engineering site starts operation Pale Blue、推進機の量産に向けた「つくば生産技術開発拠点」を稼働開始· PR TIMES |
| 2026-01-30 | Pale Blue Selected for Space Strategy Fund Project “Technology to Realize Fle... Pale Blue Selected for Space Strategy Fund Project “Technology to Realize Fle...· Pale Blue |
| 2026-01-30 | Selected for Space Strategy Fund; starts small orbital transfer vehicle 宇宙戦略基金「空間自在移動の実現に向けた技術」に採択、「超小型軌道間輸送機」の開発・事業化を本格始動· PR TIMES |
| 2026-01-20 | Pale Blue Confirms “Rapid Startup” Capability of PBI Water Ion Thruster in O... Pale Blue Confirms “Rapid Startup” Capability of PBI Water Ion Thruster in O...· Pale Blue |
| 2025-12-18 | State Minister Iwata visits Pale Blue HQ State Minister Iwata visits Pale Blue HQ· Pale Blue |
| 2025-08-07 | Series C: ≈¥1.5B· Company release |
| 2024-06-04 | Series B: ≈¥2.5B· Company release |
| 2021-10-28 | Funding: ¥790M· PR TIMES |
Founder profiles: Jun Asakawa
Funding rounds in 2026
No 2026 rounds in our database yet. Earlier funding is summarised above from the cited source.