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 approximately Y7bn ($44.3m) by the first close of Series F funding.
In the second close of Series F, additional funding is expected, alongside Woven by Toyota’s plan to appoint a director to bolster Interstellar’s corporate governance.
Interstellar stated its intention to apply automotive industry expertise, such as Toyota’s 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 personnel exchanges.
This alliance focuses on cost reduction, lead time shortening, and establishing a mass production system for rockets.
Interstellar Technologies CEO Takahiro Inagawa said: “Woven by Toyota, a leader in driving mobility transformation within the Toyota Group, is the ideal partner to help us evolve our rocket production from one-of-a-kind manufacturing to a scalable supply chain, bringing our vision of ‘a future where everyone can access space’ to life.”
The announcement followed Toyota chairman Akio Toyoda’s speech at the CES trade show in Las Vegas.
During the speech, Toyoda provided update about the company’s experimental city project at the base of Mt. Fuji in Japan.
Toyoda said: “We are exploring rockets too…because the future of mobility should not be limited to just earth…or just one car company for that matter!”
In addition to launchers, Toyota is developing a lunar rover with Japan’s space agency for the NASA-led Artemis programme.
The Lunar Cruiser, developed with the Japan Aerospace Exploration Agency, is expected to launch in 2029, expanding exploration for crewed and uncrewed space missions.
Woven by 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 mobility transformation.”
“Toyota to invest $44m in Interstellar ” was originally created and published by Verdict, a GlobalData owned brand.
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