Toyota will invest 44 million dollars in Interstellar

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

As the lead investor, Woven by Toyota will contribute approximately Y7bn ($44.3m) from the first close of the Series F financing.

In the second closing of the Series F, additional financing is expected, alongside 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 techniques, to transform rocket manufacturing into a “high-quality, cost-effective and scalable process.”

Since 2020, Interstellar has collaborated with Toyota Motor Corporation through personnel exchanges.

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

The CEO of Interstellar Technologies, Takahiro Inagawa, said: “Woven by Toyota, a leader in driving the transformation of mobility within the Toyota Group, is the ideal partner to help evolve our missile production from a single manufacturing to a scalable supply chain, bringing our vision of “a future where everyone can access space” to life.

The announcement followed Toyota president Akio Toyoda’s speech at the CES trade show in Las Vegas.

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

Toyoda said, “We’ll also explore rockets… because the future of mobility shouldn’t be limited to just the ground… or just a car company for that matter!”

In addition to the launchers, Toyota is developing a lunar rover with the Japanese space agency for the NASA-led Artemis program.

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

Toyota CEO Hajime Kumabe added: “This business alliance will leverage the extensive manufacturing capabilities of the Toyota Group and combine our expertise to advance missile production and promote the transformation of mobility.

“Toyota to invest $44m in Interstellar” was created and originally published by Verdicta trademark owned by GlobalData.

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