Charter Space, an El Segundo, California-based aerospace technology and space insurance startup, has raised $5 million in an oversubscribed Seed funding round.

The round was led by Crystal Venture Partners, with participation from QED Investors, Blank Ventures, Gaingels, and Hustle Fund. The latest funding brings Charter Space’s total funding to $8 million, following a previous $3 million pre-seed round.

The company plans to use the new funding to expand its sales and commercial operations, grow its aerospace engineering, data science and actuarial teams, and develop its technology for assessing risks in space.

Founded by CEO Yuk Chi Chan and co-founder Yukun Yin, Charter Space provides insurance and risk-analysis technology for the growing space economy. Its platform uses data such as space weather, orbital debris, satellite reliability and launch vehicle performance to help assess and price space-related risks.

The company launched its nationally licensed insurance brokerage, Charter Interplanetary Risk Corporation, in May 2026. Charter Space says it is now working with more than 50 companies across the U.S. space and defense sector and has a backlog representing more than $35 million in gross written premiums.

Charter Space plans to expand its insurance products to cover emerging space activities, including in-space servicing, lunar missions and space-based nuclear power, as well as different stages of space missions from pre-launch through in-orbit operations.

The company says the growth of commercial space companies and increasing launch activity are creating greater demand for specialized insurance and financial services for the space industry.