SAN FRANCISCO — Japanese startup Interstellar Technologies announced a 7 billion yen ($44 million) investment Jan. 6 from Woven by Toyota, the automobile company’s mobility technology arm.
Through a strategic partnership, Woven by Toyota will help Interstellar expand rocket and satellite manufacturing to meet surging worldwide demand for launch vehicles and satellite communications, according to the Interstellar news release.
“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,” Interstellar CEO Takahiro Inagawa said in a statement.
Vertical Integration
Interstellar, originally known for development of the Zero rocket, seeks to establish a vertically integrated satellite launch, manufacturing and communications business, similar to SpaceX and Starlink.
Since 2020, Toyota Motor Corp. personnel have worked with Interstellar to reduce manufacturing costs, shorten lead times and set up mass production. Through the strategic partnership, Interstellar will seek guidance from Toyota in improving production methods and strengthening its supply chain.
“Now, we are excited to collaborate with Interstellar Technologies on the mass production of rockets,” Hajime Kumabe, Woven by Toyota CEO, said in a statement. “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.”
Interstellar Funding
In August, Interstellar announced its $21 million Series E investment round. Woven by Toyota plans provided about 7 billion yen to the first close of Interstellar’s Series F round, which is now complete. Toyota is expected to provide additional funding by June, when the second Series F round close is scheduled to close.
A Woven by Toyota representative also will join Interstellar’s board of directors.
Woven by Toyota
Woven by Toyota was founded in 2021 to explore mobility challenges on land, at sea and in the air. In addition to developing autonomous logistics and autonomous transportation, Woven by Toyota is exploring rockets “because the future of mobility shouldn’t be limited to just earth — or just one car company for that matter,” Akio Toyoda, Toyota Motor Corp. chairman, said Jan. 6 at the Consumer Electronics Show in Las Vegas.