Space launch startup Una Stella said on the 2nd that it closed a Series B round worth 33.5 billion won.
The round was led by Altos Ventures, with Korea Development Bank (KDB), Strong Ventures, KDB Capital, Woori Venture Partners, Samho Green Investment, and Hana Ventures participating as new and existing investors. With this, Una Stella's cumulative fundraising reached 61.5 billion won.
Una Stella is a space launch vehicle corporations founded in Feb. 2022. Through its in-house developed, electric motor pump cycle engine-based small launch vehicle series "Una Express," it aims to provide satellite launch services and crewed suborbital spaceflight services at an altitude of 100 kilometers.
The company succeeded in a test launch of the small launch vehicle "Una Express No. 1" on May 28 last year from its own launch site in Goheung, South Jeolla Province. It was the first case of a private corporations launching a self-developed rocket from domestic territory under its own power.
The funds secured this time will be used for engine and next-generation launch vehicle development, hiring key talent, and expanding testing, manufacturing, and launch infrastructure. Una Stella is currently advancing its own engine performance based on patented electric motor pump engine technology transferred from the Korea Aerospace Research Institute (KARI). It is also in talks to use a private dedicated launch site within the Naro Space Center.
Chief Executive Park Jae-hong of Una Stella said, "The test launch last year allowed us to confirm the company's technology and execution capabilities," and added, "Based on this investment, we will lay the foundation for a launch vehicle business that extends from satellite launch services to crewed spaceflight."
An Altos Ventures representative said, "Una Stella is a team with experience actually launching a privately developed launch vehicle in Korea," and noted, "As demand for small satellite launches grows, we believe it will play a meaningful role in the domestic new space market."