Charter Space Closes Oversubscribed $5 Million Seed Round as Demand for Space Insurance Accelerates
Charter Space, the AI-native economic defense company insuring the rapidly growing space economy, led by Yuk Chi Chan and Yukun Yin, has announced the close of an oversubscribed $5 million seed round, led by Crystal Venture Partners with participation from QED, Blank Ventures, Gaingels, Hustle Fund, and other leading fintech and space investors. The round brings Charter’s total funding to $8 million, following the company’s earlier $3 million pre-seed round.
The new funding follows growth at Charter Space, including technology pilots with space companies and research organizations and the May 2026 launch of its nationally licensed insurance brokerage, Charter Interplanetary Risk Corporation. The company now serves more than 50 U.S. space and defense companies, with an insurance backlog representing over $35 million in gross written premiums.
The funding will support distribution and sales expansion and the development of insurance products covering emerging space activities, including in-space servicing, space-based nuclear power, and lunar resource utilization, across mission phases from pre-launch testing and transport through launch and in-orbit operations.
“America has led the world in space exploration and innovation, and we believe American companies should continue to be the backbone of the next generation of the space economy,” said Yuk Chi Chan, co-founder and CEO of Charter Space. “Charter Space is proud to build the financial infrastructure needed to make that possible. As we launch more hardware into orbit and beyond to supply our growing reliance on space-based services, we need a strong, competitive insurance market that gives American innovators the confidence to take risks, grow, and lead. This investment will allow us to underwrite and scale that infrastructure, encourage more capital to invest in the market, and help ensure that the future of the space economy is built here in the United States.”
“Florida’s Space Coast is leading the way in America’s growing space industry, and companies like Charter Space are helping make that growth possible,” said Congressman Mike Haridopolos (FL-08). “Strong insurance options give American space companies the confidence to invest, grow, and take on new challenges. I’m excited to see private investment supporting this important industry and helping America remain the world leader in space.”
“It is great to see venture capital is catching up to what this industry already knows: insurance is the precondition for growth in space,” said Florida Commissioner of Insurance Regulation Michael Yaworsky. “The state that leads on insurance will be the destination for capital investing in the industries of the future, and lay the foundation for continued American greatness for the next 250 years and beyond.”
“Charter Space sits at the intersection of two enormous opportunities: the rapid growth of the commercial space economy and the need for a modern approach to understanding and insuring the increasingly complex risks that accompany that growth,” said Jonathan Crystal, Managing Partner of Crystal Venture Partners. “Insurance is critical infrastructure for a strong and sustainable space industry, and we believe Charter Space is building the platform that will help the space economy scale safely and sustainably. The team at Charter Space have built an impressive business with tremendous growth potential, and we’re excited to partner with them as they enter this next phase.”
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