Interstellar Technologies, a Japanese space infrastructure company, has announced a partnership with Woven by Toyota, a division of the Toyota Group, to accelerate the mass production of rockets.
As the lead investor, Woven by Toyota will contribute around Y7bn ($44.3m) by the first round of Series F funding.
In the second round of Series F, additional funding is expected, alongside Woven by Toyota's plan to appoint a director to boost Interstellar's corporate governance.
Interstellar said it intends to apply automotive industry expertise, such as Toyota production techniques, to transform rocket manufacturing into a “high-quality, cost-effective and scalable process.”
Since 2020, Interstellar has collaborated with Toyota Motor Corporation through a personnel exchange.
This alliance focuses on reducing costs, shortening lead time, and establishing a mass production system for rockets.
Interstellar Technologies CEO Takahiro Inagawa said: “Woven by Toyota, which is leading the transformation of mobility within the Toyota Group, is the ideal partner to help us develop our rocket production from single- o-type to a scalable supply chain, bringing our vision of a 'future where everyone can access space' to life.”
The announcement came after Toyota chairman Akio Toyoda's speech at the CES trade show in Las Vegas.
During the speech, Toyoda provided an update on the company's experimental city project at the base of Mt. Fuji in Japan.
Toyoda said: “We're exploring rockets too…because the future of mobility shouldn't be limited to just earth…or just one car company for that matter!”
In addition to launchers, Toyota is developing a lunar rover with the Japanese space agency for the NASA-led Artemis program.
The Lunar Cruiser, developed with the Japan Aerospace Exploration Agency, is expected to launch in 2029, expanding exploration for manned and unmanned space missions.
Toyota CEO Hajime Kumabe added: “This business alliance will leverage the Toyota Group's extensive manufacturing capabilities and combine our expertise to advance rocket production and further drive the transformation of mobility.”
” Toyota to invest $44m in Interstellar ” was originally created and published by Verdictbrand owned by GlobalData.
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