Unastella Raises $24M Series B for Korean Rocket Launches

South Korean space startup Unastella has secured $24 million in Series B funding, raising its total capital to $44 million. The round was led by Altos Ventures and included investors like Korea Development Bank, Strong Ventures, and Hana Ventures. Founded in February 2022, Unastella focuses on cost-effective rocket technology, using an electric motor-pump cycle engine system instead of traditional turbopumps. This approach simplifies production and reduces development time, though it may limit payload capacity. The company’s breakthrough design pairs liquid oxygen with kerosene fuel, powered by custom electric engines and lightweight batteries. This innovation aims to streamline commercial space launches while maintaining efficiency. Unastella’s small team of 24 employees operates from Seoul, emphasizing rapid prototyping and in-house development. On May 28, 2025, Unastella successfully launched UNA EXPRESS I, its first liquid-fuel rocket, from a testing site in Goheung, South Jeolla Province. The launch demonstrated South Korea’s growing private space capabilities and validated operational logistics, safety protocols, and domestic regulatory processes. The test vehicle carried microgravity instrumentation from five state research agencies, including the Korea Aerospace Research Institute. The Series B funding will accelerate Unastella’s next-generation launch vehicle, UNA EXPRESS II, targeting a 100-kilometer altitude—the Kármán line—critical for commercial satellite contracts. The company is also negotiating for a private launch facility at the Naro Space Center, further solidifying its position in Asia’s commercial space market. This milestone underscores South Korea’s ambitions to compete globally in small satellite launches.