Charter Space Raises $5M Seed Round to Expand Its Space Insurance Brokerage
Charter Space has secured a $5 million seed round led by Crystal Venture Partners with participation from QED, Blank Ventures, Hustle Fund, and Gaingels. The El Segundo-based startup is expanding its space insurance brokerage after launching in May and already serving over 50 companies across the U.S. space and defense sectors. Founded to address a gap in financial services for the growing commercial space industry, Charter Space aims to make satellite insurance more accessible by leveraging centralized aerospace engineering data during underwriting processes. CEO Yuk Chi Chan emphasized that increased insurance coverage can enhance safety and attract diverse capital sources beyond traditional venture funding. The investment comes amid rapid growth in new space companies driven largely by reduced launch costs from SpaceX’s Falcon 9 rocket. Charter Space plans to use the funds to expand its sales team and develop specialized insurance products for emerging mission concepts such as lunar missions and space-based nuclear power.
