Unastella, a South Korean space launch vehicle startup and the first private company in Korea to successfully launch a self-developed rocket, has closed a 33.5 billion won SeriesB funding round, bringing its total cumulative investment to 61.5 billion won.
The Series B round was led by Altos Ventures, with participation from the Korea Development Bank (KDB), Strong Ventures, KDB Capital, Woori Venture Partners, Samho Green Investment, and Hana Ventures — a mix of new and returning investors. The funding comes on the heels of Unastella’s landmark achievement as the first private Korean company to independently launch its own rocket from domestic soil.
Founded in February 2022 and led by CEO Park Jae-hong, Unastella is developing a small launch vehicle series called UNA EXPRESS, powered by a proprietary electric motor pump cycle engine. The company’s core technology is based on patent rights acquired from the Korea Aerospace Research Institute (KARI), which it has since further developed in-house. The startup’s dual mission targets two markets: commercial satellite launch services and suborbital crewed spaceflight at an altitude of 100 km, and the company is also in active discussions to secure a dedicated private launch pad at the Naro Space Center.
The freshly raised capital will be allocated to engine and next-generation launch vehicle development, recruitment of key engineering talent, and expansion of testing, manufacturing, and launch infrastructure.
