TechCrunchSean O'Kane
Charter Space raises $5M to bring insurance to the stars
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,…
As Charter explains on its website, a common experience for space companies is that regular insurers “heard a bunch of scary science words and freaked out.”When Chan started Charter Space with co-founder Yukun Yin, they set out to build a centralized software for aerospace engineering that would bring together the technical, manufacturing, and test data for customers. But he realized there was a lot of potential value in plugging that data into the underwriting process.“We want more satellites to get insured, because that means that everything as a whole is much, much safer.
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