Pacific Bays Capital Invests in Space Robotics Company GITAI
Pacific Bays Capital (PACCAP) is excited to announce its investment into GITAI. The investment of 300M JPY was made as part of GITAI’s Series B Extension round.
PACCAP’s investment is part of one of the fund’s key focus areas — aerospace & space. PACCAP is also attracted to emerging Japanese technology companies that can benefit from exposure to wider global markets. GITAI has already begun to focus on adding operations in the United States and PACCAP looks forward to increasing GITAI’s exposure there.
PACCAP Partner Dr. Jason Nye commented, “Space related technologies are expanding and bringing the world into an exciting new era of space travel and exploration. We believe that GITAI can fill an important gap with its autonomous robotics in space applications in Japan and the rest of the world.” PACCAP Partner Maxwell Imai Weiss added, “as a Japan based fund, PACCAP is excited to support GITAI and assist with its global expansion, as one of our goals is to help bring exciting new technologies from Japan to other global markets, like North America.”
PACCAP’s investment into GITAI is through two vehicles — its primary venture capital fund, and a specialized vehicle with participation from Bank of Fukuoka holding company Fukuoka Financial Group’s venture capital subsidiary FFG Venture Business Partners, and other Japanese investors.
GITAI is the world’s leading space robotics startup, aiming to provide safe and affordable labor in space and reduce operational costs by 100 times. GITAI is developing highly capable, safe, and reliable robots to help build and maintain satellites, space stations, lunar bases, and cities on Mars.
Pacific Bays Capital is a Tokyo based investment fund with global presence focused on the aerospace, space, green agriculture and energy sectors. Within these focus areas, PACCAP seeks to use its global networks to bring wider global presence and business activity for its investments.