Japanese startup Interstellar Technologies has unveiled a significant partnership with Woven by Toyota, marking a pivotal step in the realm of rocket and satellite manufacturing.
Interstellar Technologies, an innovator in the space industry, announced a substantial investment of 7 billion yen ($44 million) from Woven by Toyota, the automotive giant’s mobility technology wing. This strategic collaboration aims to expand Interstellar’s capabilities in rocket and satellite manufacturing, responding to the increasing global demand for launch vehicles and satellite communications.
According to a statement by Takahiro Inagawa, CEO of Interstellar, the partnership with Woven by Toyota provides an ideal platform to enhance rocket production by transitioning from bespoke manufacturing to a scalable supply chain. Interstellar, initially recognized for its development of the Zero rocket, is now focused on building a vertically integrated satellite launch and communications business akin to models like SpaceX and Starlink.
Since 2020, Toyota Motor Corporation’s personnel have been contributing to reducing production costs, shortening lead times, and setting up mass production capabilities at Interstellar. The current strategic partnership will see Interstellar seeking Toyota’s guidance to further improve production techniques and strengthen the supply chain.
Hajime Kumabe, CEO of Woven by Toyota, expressed enthusiasm about the alliance, noting that the partnership leverages Toyota Group’s extensive manufacturing expertise to advance rocket production and enhance mobility transformation. The collaboration reflects a mutual commitment to evolving manufacturing processes and products that extend beyond traditional automotive solutions.
Interstellar also completed a $21 million Series E investment and has now concluded the first close of its Series F round with contributions from Woven by Toyota. The automotive firm’s involvement is set to continue, with additional funding expected by June. Moreover, a representative from Woven by Toyota is set to join Interstellar’s board of directors, indicating an integrated effort to guide the company’s strategic direction.
Woven by Toyota, established in 2021, aims to address mobility challenges across different domains, including land, sea, and air. Akio Toyoda, Chairman of Toyota Motor Corporation, emphasized the importance of venturing into areas like rocket development to ensure that the future of mobility transcends beyond Earth.
The partnership between Interstellar Technologies and Woven by Toyota signifies a transformative approach to space exploration and manufacturing. By combining their expertise, these companies are set to drive substantial advancements in the aerospace sector.
Source: Spacenews
