Japanese space tech startup Letara expands beyond satellite thrusters with $16M
Japanese space startup Letara is betting its hybrid rocket technology can move beyond small satellite thrusters into a broader market for space, defense and security, after raising ¥2.6 billion ($16 million).
Japan's space tech startup Letara, based in Sapporo, is expanding its reach beyond satellite thrusters, eyeing a larger slice of the global aerospace market. With a recent $16 million funding round led by Headline Asia, JIC Venture Growth Investment, and Incubate Fund, the company aims to develop large rocket systems for defense and security markets.
Led by co-CEO Shota Hirai, Letara's hybrid propulsion technology uses inexpensive, readily available materials like plastic and rubber as solid fuel, separate from liquid oxidizer. This approach aims to deliver more thrust with less waste compared to traditional hybrid rockets. The startup's unique manufacturing process ensures reliable and consistent ignition and burn.
The global hybrid rocket propulsion market is expected to reach $2.6 billion by 2032, presenting a lucrative opportunity for Letara. The company is not alone in its pursuit, as other global players like Interstellar Technologies, Galactic Energy, InnoSpace, and Equatorial Space are also advancing hybrid rocket technology. Letara's ambitions extend to defense contracts and launch services, with the goal of competing with established companies worldwide.
The startup has already secured orders from rocket and satellite companies as well as the Japanese government, securing a key milestone in an in-orbit firing test with an overseas partner.
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