Charter Space Raises $5M Seed Round to Expand Space Insurance Business

Charter Space, an El Segundo, California-based space insurance startup, raised a $5 million seed round led by Crystal Venture Partners to scale its nationally-licensed brokerage, which launched in May 2026 and already serves over 50 U.S. space and defense companies. Fintech investors QED and Blank Ventures, early-stage firm Hustle Fund, and Gaingels participated. The company has raised $8 million to date and will use proceeds to grow sales and expand coverage offerings. Charter Space provides centralized software that aggregates technical, manufacturing, and test data to streamline underwriting, a process CEO Yuk Chi Chan said remains rare due to high costs. The company plans coverage for "novel mission concepts" including space-based nuclear power, lunar missions, and in-space servicing of other spacecraft.