Letara raises $16.3m for hybrid rocket engines

(SpaceEnergy) Japanese propulsion developer Letara has raised ¥2.6bn ($16.3m) in a pre-Series A round to accelerate development and production of its hybrid rocket engines.

The Sapporo, Japan-based company said the round was co-led by Headline Asia, JIC Venture Growth Investments and Incubate Fund, with additional participation from strategic and venture investors.

Letara is developing hybrid engines that store solid fuel and oxidiser separately. Its approach uses commercially available plastic as fuel, combined with a proprietary fuel geometry and patented low-power ignition system intended to deliver stable combustion and high thrust.

The company said its propulsion technology can be used for launch vehicles and on-orbit propulsion and has been miniaturised to palm-sized units. Letara has also received orders from rocket and satellite companies and the Japanese government.