Charter Space Raises $5M Seed to Expand Space Insurance
Charter Space has raised a $5 million seed round led by Crystal Venture Partners to grow its space insurance business and sales team.
Charter Space has raised a $5 million seed round led by Crystal Venture Partners, the company said. The funding will be used to grow its sales organization and expand its insurance offerings.
The startup said it is servicing over 50 companies across the U.S. space and defense industrial base. It launched a nationally-licensed insurance brokerage in May.
Charter Space has raised $8 million to date. The round also included participation from QED, Blank Ventures, Hustle Fund, Gaingels, Yuk Chi Chan and Yukun Yin.
The company was a finalist in last year's TechCrunch Startup Battlefield. Its funding comes as SpaceX's Falcon 9 rocket has lowered the cost of launching things into orbit over the last decade, opening the door to more commercial space activity.
Quick answers
How much did Charter Space raise?
Charter Space raised a $5 million seed round led by Crystal Venture Partners.
What will Charter Space use the funding for?
The company will use the seed funding to grow its sales organization and insurance offerings.
How much has Charter Space raised to date?
Charter Space has raised $8 million to date.