Japanese space tech startup Letara raises $16M to expand into large rocket systems
Letara, a Japanese space technology startup based in Sapporo, has raised ¥2.6 billion (~$16 million) in new funding led by Headline Asia and other investors including JIC Venture Growth Investment and Incubate Fund. The company is expanding beyond its initial focus on hybrid thrusters for small satellites to develop large rocket systems for the space, defense, and security markets. The startup's technology centers around a proprietary hybrid propulsion system that uses inexpensive materials like plastic and rubber as solid fuel with liquid oxidizers. This design aims to improve thrust efficiency while reducing waste compared to traditional paraffin-based hybrids. Letara was founded by co-CEOs Shota Hirai and Landon Thomas Kamps during their research at Hokkaido University. The global hybrid rocket propulsion market is expected to grow significantly, reaching $2.6 billion by 2032 from $848 million in 2024. Letara faces competition from other startups such as Japan's Interstellar Technologies and international firms like HyImpulse (Germany) and Gilmour Space (Australia).
Topics: Hybrid Rocket Technology Space Industry Startup Funding