Japanese space tech startup Letara expands beyond satellite thrusters with $16M

Letara, a Sapporo startup, raised ¥2.6 billion ($16 million) to expand from hybrid thrusters for small satellites into large hybrid rocket systems for space, defense and security markets. Its proprietary process uses inexpensive plastic and rubber fuels to boost thrust and reduce waste, targeting a market projected to reach $2.6 billion by 2032.