FinTech

Letara Raises 1.13 Billion Yen in Seed Round for Hybrid Spacecraft Propulsion

Letara Inc., a startup that develops and manufactures propulsion units (engines) for spacecraft such as artificial satellites using plastic as fuel, has raised an additional 650 million yen. The total amount raised to date, including subsidies, is approximately 1.8 billion yen. With this latest round of funding, the company aims to accelerate development for space demonstration and realize it as soon as possible. Also Read: Space Data and Aww start collaboration to integrate virtual humans and digital twins Letara was established to put into practice the technology that has been researched at Hokkaido University's Space Environment Systems Engineering Laboratory. The company solved the problems of explosiveness, danger, and high cost that existing engines have by using plastic as fuel. It belongs to a hybrid chemical propulsion system that uses solid…