Participation from New and Existing Investors Including Altos Ventures, Korea Development Bank, Strong Ventures, and Hana Ventures Space launch vehicle startup UNASTELLA announced on June 2 that it has completed a Series B funding round totaling 33.5 billion won. This round was led by Altos Ventures, with participation from major domestic and international investors such as Korea Development Bank, Strong Ventures, KDB Capital, Woori Venture Partners, Samho Green Investment, and Hana Ventures, both as new and existing investors. With this latest investment, UNASTELLA's cumulative funding now stands at 61.5 billion won. Founded in February 2022, UNASTELLA aims to provide satellite launch services and suborbital crewed spaceflight services at an altitude of 100 km through its self-developed electric motor pump cycle engine-based small launch vehicle series, "UNA EXPRESS." Notably, on May 28 last year, approximately three years after its founding, UNASTELLA successfully conducted a test launch of its small launch vehicle "UNA EXPRESS-I" at its own launch site in Goheung, Jeollanam-do. This marked the first time a privately developed rocket was launched independently by a private company on South Korean territory. The vehicle carried microgravity test devices from five research institutes, including the Korea Aerospace Research Institute and the Korea Institute of Machinery and Materials, and was also the first case of applying the Korea Aerospace Administration's "Space Pioneer Project" to an actual launch. Through this test launch, UNASTELLA not only validated its integrated launch capabilities but also proactively handled the necessary regulations, permits, and on-site operational procedures required for private domestic launches. This demonstrated that private companies in South Korea can independently design, manufacture, and launch their own vehicles. UNASTELLA is currently advancing its proprietary engine based on the electric motor pump engine patent technology transferred from the Korea Aerospace Research Institute, and is also in discussions to utilize the private launch pad at the Naro Space Center. The Series B funding will be used for engine and next-generation launch vehicle development, securing core talent, and expanding infrastructure for testing, manufacturing, and launches. Jaehong Park, CEO of UNASTELLA, stated, "We were able to complete this Series B funding round based on last year’s successful test launch, which has become a springboard for taking the company to the next level. We will prove that a private-led space industry is possible in South Korea, and build a sustainable launch vehicle business that connects satellite launches to crewed spaceflight." 한글 기사 보기 This content was produced with the assistance of AI translation services. © The Asia Business Daily(www.asiae.co.kr). All rights reserved.

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