Kiwi-based, Zenno Astronautics has just received funding from a leading global venture capital firm, Japan’s Global Brain, the firms first investment in Australasia.

The company, Zenno Astronautics, is all about electrifying space with its fully autonomous and fuel-free applications – with even one already in orbit.

The fund was led by New Zealand’s very own Global From Day One (GD1) and saw significant investments from the likes of Shasta Ventures and support from other existing investors, including Nuance, K1W1, UniServices, NZVC and New Zealand Growth Capital Partners (NZGCP)’s Aspire Seed Fund.

However, one company with significant investment is Global Brain from Japan – one of the largest venture capital firms in Japan with over $2 billion USD under management and extensive expertise in the space sector.

Global Brain was able to provide investments from ANA Holdings – the Japanese airline and Mitsubishi Electrics, two of the largest firms in Japan.

Each investment saw potential in the superconducting magnets that Zenno Astronautics are behind, which focuses on high-precision and fuel-free satellite positioning. 

Zenno’s product (Z01) scales to address demanding positioning requirements for satellites from 50kg and up to space station sized. The product addresses the ongoing need for satellites to reposition in orbit to maximise commercial value.

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“Zenno builds for life in space. Our mission is to create enabling and highly scalable technologies that will allow humanity to prosper in space without dependence on Earth’s resources, such as the need for fuel, radiation shielding and frequent resupply of spacecraft in orbit,” says Zenno Co-founder and CEO Max Arshavsky.

“We are very pleased to partner with Global Brain and their lead, a space evangelist and pioneer, Mr Hidetaka Aoki, who will join Zenno’s board as an observer. This injection of expertise and capital will accelerate Zenno’s ability to deliver the benefits of our technology to global space sector customers. 

“Partnerships with ANA HOLDINGS and Mitsubishi Electric will ensure that Zenno’s technology is available and deployed in the Japanese market.”

Arshavsky adds that this is truly the beginning of a relationship between New Zealand and Japan and innovating the space world.

“This represents Global Brain’s first investment in New Zealand, and we are thrilled to support Zenno’s groundbreaking innovations in superconducting technology for space applications. Global Brain greatly values Zenno’s technical expertise and visionary approach to advancing the space industry with scalable solutions. We are dedicated to leveraging our resources to support Zenno’s global growth, including their expansion into the Japanese market,” ends Global Brain Corporation CEO Yasuhiko Yurimoto.