Japanese space tech startup Letara has closed a ¥2.6 billion ($16 million) funding round to expand its operations beyond small satellite thrusters and step into the development of large rocket systems for space and defense markets.
Spun out of Hokkaido University, Letara specializes in hybrid propulsion that separates solid fuel from liquid oxidizer. By using cost-effective and widely available materials like rubber and plastic processed through proprietary methods, the company aims to deliver higher thrust and reliable combustion without the inefficiencies of traditional paraffin-based designs.
The fresh capital is backed by prominent institutional investors and a fund supported by JAXA, Japan’s aerospace agency. With the global hybrid rocket market expanding rapidly, Letara’s next critical steps involve in-orbit firing tests and establishing scalable manufacturing chains to meet growing commercial and governmental demand.
- Letara raised $16 million in new funding led by prominent investors.
- The startup is moving from satellite thrusters to large rocket propulsion systems.
- Its proprietary hybrid design uses everyday materials like plastic and rubber as solid fuel.
- Backing includes strategic funds tied to Japan’s space agency, JAXA.
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