Woven by Toyota, the mobility technology arm of the automotive giant, has invested 7 billion yen ($44 million) in Japanese startup Interstellar Technologies. This strategic partnership aims to significantly expand Interstellar's rocket and satellite manufacturing capabilities to meet the rising global demand for launch vehicles and satellite communications.
“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,” stated Interstellar CEO Takahiro Inagawa. Interstellar, initially recognized for its Zero rocket, plans to build a vertically integrated business encompassing satellite launch, manufacturing, and communications, mirroring the model of SpaceX and Starlink.
Toyota's involvement with Interstellar began in 2020, focusing on cost reduction, lead time improvements, and mass production strategies. This new partnership will further leverage Toyota's expertise in enhancing production methods and strengthening Interstellar's supply chain.
“Now, we are excited to collaborate with Interstellar Technologies on the mass production of rockets,” said Hajime Kumabe, Woven by Toyota CEO. “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.”
This 7 billion yen investment represents the first close of Interstellar’s Series F funding round, building on their $21 million Series E round in August. Further funding from Toyota is anticipated by June, at the close of the second Series F round. A Woven by Toyota representative will also join Interstellar’s board of directors.
Woven by Toyota's interest in space technology aligns with their broader vision. As Akio Toyoda, Toyota Motor Corp. chairman, explained at the Consumer Electronics Show: “because the future of mobility shouldn’t be limited to just earth — or just one car company for that matter.”