Japanese aviation and aerospace component manufacturer Interstellar Technologies announced that it expects to receive approximately $44.3 million in funding from Woven by Toyota, the automaker’s mobility technology subsidiary.
Woven by Toyota CEO Hajime Kumabe said that the investment aligns with the company’s goal of leveraging space exploration to drive sustainability on Earth.
Advancing Mass Rocket Production
The latest development between Interstellar and Toyota builds on a partnership established in 2020, featuring personnel exchanges from the automaker’s Auto Body and Hokkaido subsidiaries. Interstellar plans to use Toyota’s automotive production methods to advance mass rocket production, shorten lead times, and reduce costs.
Incorporating Satellites
Interstellar also highlighted its vertically integrated business model that combines rockets with satellite communications. The company is developing a launch vehicle designed to send satellites to space. According to Interstellar, its satellite technology provides direct connections to ground devices, which reportedly offers high-capacity and high-speed broadband communication.
Establishing a Network for Toyota’s Concept City
TechCrunch reported that Toyota Chairman Akio Toyoda teased the collaboration during the Consumer Electronics Show in Las Vegas. Toyoda shared a rendering of a rocket and added that Toyota and Interstellar are exploring telecommunications networks that could support the automaker’s Woven City, a concept city intended to serve as a testbed for mobility.
Image credit: Interstellar Technologies Inc.
