Letara raises 2.6 billion yen for plastic-fueled rocket engine development

Letara, a Sapporo-based rocket engine developer, has raised approximately 2.6 billion yen (about $16.3 million) in a Pre-Series A funding round. The round was co-led by Headline Asia, JIC Venture Growth Investments, and Incubate Fund, with participation from 10 other investors, including SMBC Venture Capital and Mitsubishi UFJ Capital.

The company is developing low-cost, mass-producible hybrid rocket engines that utilize a unique architecture where fuel and oxidizer are stored separately. Unlike conventional engines that rely on explosive liquid or solid fuels, Letara’s technology uses common, commercially available plastic as fuel. This approach aims to improve safety, simplify engine design, and leverage existing commercial supply chains for easier manufacturing.

Originating from research at Hokkaido University, Letara has addressed historical technical challenges regarding stable ignition and thrust through a proprietary fuel design and patented ignition system. The company intends to use the new capital to accelerate the commercialization of its propulsion systems for satellite launches, on-orbit use, and defense and security applications.