On October 5, iQPS announced that it had raised a total of 866 million yen (approximately 8.37 million dollars). This figure comprises additional funds from existing shareholders and financing from Japan Finance Corporation and the cumulative total of the funds raised until now is approximately 3.3 billion yen (approximately 31.93 million dollars).
The same company is a space engineering venture from Kyushu University. It is developing large lightweight antennae for small satellites and realizes 1/20th the mass and 1/100th the cost of existing SAR (synthetic aperture radar) satellites. In October 2017, it raised a total of 2.35 billion yen (22.73 million dollars) underwritten by a total of nine companies and which they loaded on the two technology demonstration satellites "Izanagi" and "Izanami" and in December 2017, the first satellite, Izanagi, was launched. Also, the second satellite, Izanami, is scheduled to be launched in or after December 2020.
It was announced that the funds that were raised and financed this time would be used as funds for the advance development of the third to sixth satellites scheduled to be launched in 2022, the advance arrangements for parts, and so on to work towards the realization of a 36 small SAR satellite system that is this company's goal.