Image credits: Charter Space.
Charter Space announced a $5M seed round on September 30, 2026. Crystal Venture Partners, an insurance-focused firm, led the round. QED, Blank Ventures, Hustle Fund, and Gaingels also participated. The company has now raised $8M in total.
Based in El Segundo, California, Charter says it serves more than 50 companies across the U.S. space and defense industrial base. That follows the May launch of its nationally licensed insurance brokerage. It was a finalist in TechCrunch's Startup Battlefield last year.
Chan and co-founder Yukun Yin originally set out to build centralized software for aerospace engineering, combining technical, manufacturing, and test data. Chan then saw that the same data could improve underwriting. He argues that insuring space hardware remains rare largely because underwriting something like a satellite is costly, and that broader coverage would make the sector safer and open it to capital beyond venture and growth equity, such as debt and credit.
The timing reflects market changes. Space was long dominated by governments and defense contractors that moved conservatively. Over the past decade, cheaper launches, driven largely by SpaceX's Falcon 9, have created many more satellite makers and launch providers. TechCrunch notes that competition is expected to increase as SpaceX plans to retire the Falcon 9.
Jonathan Crystal of Crystal Venture Partners called insurance critical infrastructure for a sustainable space industry. Florida's insurance regulation commissioner, Michael Yaworsky, called it the precondition for growth in space and tied it to local investment, since Florida remains the country's leading launch location.
Charter plans to use the funds to grow its sales organization and insurance offerings. Products under consideration include coverage for novel mission concepts such as space-based nuclear power, lunar missions, and in-space servicing of other spacecraft.
