Sompo Japan Insurance, Japan’s second-largest property insurance company, has formed a business and capital alliance with the Tsukuba-based startup Warpspace. The startup has received pre-series B funding from Sompo Japan.
Warpspace is developing the WarpHub InterSat an optical inter-satellite data relay service, as against the now common electromagnetic, radio-frequency, data relays. Warpspace intends to use optical data relays for satellites operating in the more radiation dense medium-Earth-orbit. As compared to conventional radio communications, WarpHub InterSat’s optical communications will give higher data-throughput, lower transmission times, real-time accessible time, and with high data transmission security. Such real-time data transmission is useful for Japan and other disaster-prone regions of the world and for use in port logistics.
Warpspace’ technology will be first demonstrated through three satellites to be launched by 2024. Sompo will provide insurance for risks met by the Warpspace satellites in the MEO, especially the higher radiation dosage, than that in low-Earth orbit, which could disrupt communications. This is in line with the projected MEO satellite market, which is expected to grow at the rate of 7.4% by 2028.
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