Letara Co., Ltd. (headquartered in Sapporo, Hokkaido), which develops satellite propulsion systems raised 120 million yen from a fund operated SBI Investment Co., Ltd. (Minato-ku, Tokyo), NES Inc. (Minato-ku, Tokyo), BIG Impact Inc. (Shibuya-ku, Tokyo) ), by Hokkaido Venture Capital, Inc. (Sapporo, Hokkaido) and Uematsu Electric Co., Ltd. (Akabira, Hokkaido) through the issuance of J-KISS stock acquisition rights.
Purpose of Fundraising
Letara Ltd. is a startup company from Hokkaido University established in June 2020 with the mission of "Beyond the Earth, Faster and Further".
The number of satellites launched is increasing year by year, and it is expected that the annual number of satellites will exceed 4,000 by around 2030.
A propulsion system with a propulsive force is required to move a satellite quickly in space, however with current technology, it is necessary to use explosive and combustible materials to meet these demands, which poses a major safety issue.
We are developing a hybrid propulsion system that uses plastic fuel, which will enable us to manufacture safe and non-hazardous satellites with strong propulsion power.
To create a future that crosses space, we will conduct technology demonstration tests, and spread safe, propulsive satellite propulsion systems around the world as soon as possible, with the funds procured in this round, so that people and things can freely move into space.
SBI Investment Co., Ltd.
Investment Department Manager Kajihara Hiromine
As the number of satellites launched increases and the space business flourishes, some satellites are currently dependent on dangerous and expensive liquid propulsion. Letara has the potential to solve this difficult problem by developing a high-thrust plastic-fueled propulsion system that is safe and inexpensive. Also, Letara has members who are familiar with hybrid propulsion, so we expect that this team will bring about major innovations in the space industry, and we will do our best to support them.
Uematsu Electric Co., Ltd.
Managing Director Tsutomu Uematsu
Uematsu Electric has been involved in the Letara's development for this project since the beginning. I'm confident that Letara will provide space researchers around the world with an inexpensive, safe and reliable propulsion system.
Associate Ten Kameya
The market for small satellites is expanding rapidly with the advance of the private space industry, but the issue of achieving both propulsion power and safety in the propulsion system remains. Letara has a unique technology with high-thrust, safe, and inexpensive propulsion system which has established a dominant position in the world, such as winning the best paper award from the American Institute of Astronautics. In addition, we felt great potential in Letara's passionate team, which is centered on a management team with diverse backgrounds, so that we decided to make an investment this time! I think that the development of the space industry will be a long-term challenge, but we will continue to provide support beyond this round to realize the company's goal of "a future where people and things can freely travel in outer space." We will continue to.
BIG Impact Inc.
CEO Naotaka Hosono
In the space business, we have invested in Letara, which has epoch-making and original propulsion system technology in the field of small satellites, which is expected to be rapidly commercialized in the future. As a university-launched venture, we hope to return to society the results of our steady efforts in research over many years, and to create a major impact on the world. As a university-launched venture, we hope to return to society the results of our steady efforts in research over many years, and to create a major impact on the world.
Hokkaido Venture Capital, Inc.
Found Manager Hiromichi Sato
I am excited that one of the research results of CAMUI rocket development will be put to practical use. We hope to become a company that spreads its wings to the world from Hokkaido.