Toyota invests $44 million in Interstellar

Interstellar Technologies, a Japanese space infrastructure company, announced a partnership with Woven by Toyota, a division of the Toyota Group, to accelerate mass production of rockets.

As the lead investor, Woven by Toyota will contribute approximately JPY 7 billion ($44.3 million) upon the first closing of the Series F financing.

In the second closing of the Series F, additional financing is expected, along with Woven by Toyota’s plan to appoint a director to strengthen Interstellar’s corporate governance.

Interstellar has stated its intention to apply automotive industry expertise, such as Toyota’s production technologies, to transform rocket manufacturing into a “high-quality, cost-effective and scalable process.”

Since 2020, Interstellar has cooperated with Toyota Motor Corporation through employee exchange.

This alliance focuses on reducing costs, shortening lead times, and creating a mass production system for missiles.

Takahiro Inagawa, CEO of Interstellar Technologies, 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 unique manufacturing into a scalable supply chain, bringing Our vision is “a future where everyone has access to space” for life.”

The announcement came after Toyota President Akio Toyoda’s speech at the CES trade show in Las Vegas.

During his speech, Toyoda provided an update on the company’s pilot city project at the base of Mount Fuji in Japan.

“We’re also exploring rockets… because the future of mobility doesn’t have to be limited to just Earth… or just one car company for that matter!” Toyoda said.

In addition to launch pads, Toyota is developing a lunar rover with the Japanese Aerospace Agency for the NASA-led Artemis program.

The Lunar Cruiser, developed in cooperation with the Japan Aerospace Exploration Agency, is expected to be launched in 2029, expanding the exploration range for manned and unmanned space missions.

“This business alliance will leverage the Toyota Group’s extensive manufacturing capabilities and combine our expertise to enhance rocket production and continue driving the transformation of mobility,” added Hajime Komabe, CEO of Toyota.

“Toyota Invests $44 Million in Interstellar” was originally created and published by Judgmentwhich is a trademark of GlobalData.

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