Japanese space tech startup Letara expands beyond satellite thrusters with $16M
Japan is pouring billions of dollars into its burgeoning space industry and easing restrictions on defense exports, efforts designed to build a homegrown aerospace sector filled with domestic startups that have a global reach. Letara, a Sapporo-based startup developing hybrid propulsion systems for spacecraft, is looking to capitalize on that push.
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Key Facts
- Fact 1: That expansion is being fueled by ¥2.6 billion (~$16 million) in new funding that comes as the startup tries to turn years of academic research and demonstrations into a commercial business.
- Fact 2: The global hybrid rocket propulsion market is projected to expand to $2.6 billion by 2032, up from $848 million in 2024, at a CAGR of 15% — a trajectory that points to growing demand for the technology.
- Fact 3: When Letara was spun out of Hokkaido University in 2020, it was focused on developing satellite thrusters.
Japan is pouring billions of dollars into its burgeoning space industry and easing restrictions on defense exports, efforts designed to build a homegrown aerospace sector filled with domestic startups that have a global reach. Letara, a Sapporo-based startup developing hybrid propulsion systems for spacecraft, is looking to capitalize on that push.
After focusing on hybrid thrusters for small satellites, the company now plans to develop large rocket systems for the space, defense, and security markets, company’s co-CEO Shota Hirai told TechCrunch. That expansion is being fueled by ¥2.6 billion (~$16 million) in new funding that comes as the startup tries to turn years of academic research and demonstrations into a commercial business. The round was co-led by Headline Asia, JIC Venture Growth Investment and Incubate Fund with participation from strategic investors including NES (Networked Energy Services) Corporation, an energy company; Toyoda Gosei, a Toyota Group supplier of rubber and plastic automotive components; and Frontier Innovations, an investment fund managed by Frontier Innovations and backed by the Japan Aerospace Exploration Agency (JAXA), Japan’s space agency.
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Original source: TechCrunch
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