Rocket engine developer Letara raises $16.4m

(SpaceEnergy) Japanese rocket engine developer Letara has raised ¥2.6bn ($16.4m) in a pre-Series A funding round to accelerate development and commercialisation of its hybrid propulsion technology.

The Sapporo, Japan-based company said Headline Asia, JIC Venture Growth Investments and Incubate Fund co-led the round, alongside strategic and venture investors including Toyoda Gosei, Frontier Innovations and Mitsubishi UFJ Capital.

Letara is developing hybrid rocket engines that store solid fuel and oxidiser separately. Its system uses commercially available plastic as fuel, which the company says simplifies sourcing and supports lower-cost mass production.

The company said its fuel design and manufacturing process enables stable combustion and high thrust, while a patented low-power ignition system provides reliable ignition. The technology has been miniaturised to palm-sized propulsion units and is being developed for satellite launch, in-space propulsion and defence applications.

Letara said it has received orders from rocket and satellite companies and the Japanese government. The company is also preparing its hybrid propulsion technology for an in-orbit demonstration.