Charter Space raises $5M to bring insurance to the stars
Charter Space has raised $5 million in seed funding to expand its insurance brokerage services for the aerospace industry. The startup aims to simplify the underwriting process for satellites and space-based assets.
Why it matters
As the space economy grows, specialized financial services like insurance are becoming critical infrastructure for commercial space ventures.
Charter Space, a finalist in last year’s TechCrunch Startup Battlefield , has raised a $5 million seed round to keep growing its budding space insurance business.
The El Segundo, California-based startup said Wednesday it’s already servicing over 50 companies across the U.S. space and defense industrial base following the launch of its nationally-licensed insurance brokerage in May.
Insurance-focused Crystal Venture Partners led the round, and fintech investors QED and Blank Ventures, early-stage venture firm Hustle Fund, and Gaingels, an investment syndicate that backs startups with underrepresented leadership, also participated.
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