Toyota to invest over $44M in rocket company

Published On Jan 7, 2025, 1:46 PM

Toyota has announced a $44.3 million investment in Japanese rocket company Interstellar Technologies (IST). The investment is part of IST's Series F fundraising, and it aims to leverage Toyota's extensive automotive manufacturing expertise to improve rocket production processes. The partnership will also involve personnel exchanges and governance improvements. This move is in line with the Japanese government's goal to increase annual rocket launches significantly by the early 2030s, addressing both domestic and international demand.