Hokkaido University Spin-off Letara Raises Approx. 2.6 Billion Yen in Pre-Series A Funding to Accelerate Safe, Low-Cost Hybrid Rocket Development

Overview of Funding

Letara Inc., a startup originating from Hokkaido University, has announced the successful completion of a pre-Series A funding round, raising approximately 2.6 billion yen through third-party allotment of shares and other means. This round was co-led by Headline Asia, JIC Venture Growth Investments, and Incubate Fund, with a total of 13 participating companies, including Aozora Corporate Investment.

Letara's Proprietary Technology

The company is developing a "hybrid rocket" engine system. By using plastics or similar materials as fuel and storing them separately from the oxidizer, the design minimizes explosiveness and delivers high safety standards. To achieve stable ignition and high thrust performance—previously considered major technical hurdles—Letara leverages proprietary fuel design and manufacturing approaches based on Hokkaido University research, alongside patented ignition system technology. Furthermore, the engines are compact and well-suited for mass production, accommodating a wide range of applications from satellite launches to defense and national security.

Purpose of Funding and Future Outlook

The newly raised capital will be used to further advance the commercialization of its rocket engine technology and accelerate development momentum. Letara has already secured orders from domestic and international rocket and satellite companies, as well as government agencies. It has also earned high praise from third-party institutions, including support from NEDO and registration as a JAXA Partner Startup. Moving forward, the company plans to strengthen global recruitment and drive societal implementation to realize its vision of "delivering anything, anywhere, within 24 hours."

List of Investors

• Headline Asia
• JIC Venture Growth Investments Co., Ltd.
• Incubate Fund Inc.
• Aozora Corporate Investment Co., Ltd.
• SMBC Venture Capital Co., Ltd.
• NES Inc.
• Gogin Capital Co., Ltd.
• Toyoda Gosei Co., Ltd.
• BIG Impact Inc.
• Frontier Innovations Inc.
• Mitsui Sumitomo Insurance Venture Capital Co., Ltd.
• Mitsubishi UFJ Capital Co., Ltd.
• mint Co., Ltd.