Unastella, a South Korean space technology company developing launch vehicles and propulsion systems, has raised $24 million in Series B funding, bringing its total capital raised to $44 million.
The round was led by Altos Ventures, with participation from Korea Development Bank, Strong Ventures, Hana Ventures, and other investors.
Founded in 2021 by aerospace engineer Jae Park, Unastella is building a fully integrated launch platform focused on small satellite missions and the growing commercial space market.
Building South Korea’s Next Generation Launch Infrastructure
Headquartered in Seoul, Unastella develops its launch vehicles entirely in-house, covering rocket design, engine development, manufacturing, ground operations, and flight systems.
The company achieved a major milestone in May 2025 when it successfully launched its UNA EXPRESS-I rocket from South Korean territory, marking one of the country’s most significant privately developed launch achievements to date.
The mission served as a full end-to-end validation of the company’s technology stack and operational capabilities.
Advertisement
Developing Cost-Efficient Launch Technology
Unastella’s launch vehicles use a liquid oxygen and kerosene propulsion system, one of the most widely proven rocket engine combinations in the space industry.
The company has also adopted electric motor pump technology as an alternative to traditional turbopumps, aiming to simplify engine architecture, reduce costs, and accelerate development timelines.
According to the company, this approach prioritises commercial scalability and speed to market rather than pursuing maximum payload performance.
Preparing For Future Orbital Missions
The company is currently focused on validating its launch technology through a series of increasingly advanced flight missions.
Its next major milestone will be the launch of UNA EXPRESS-II, expected next year, which is designed to reach an altitude of 100 kilometres and further demonstrate the platform’s capabilities.
Unastella believes successful completion of this mission could unlock new partnerships across South Korea’s aerospace, defence, and satellite sectors.
Strengthening South Korea’s Space Ecosystem
The startup has already established collaborations with key institutions including the Korea Aerospace Research Institute (KARI) and the Korea AeroSpace Administration (KASA).
The company has also benefited from technology transfers related to electric propulsion systems and has worked with national space organisations on previous test missions.
As South Korea increases investment in its commercial space sector, Unastella is positioning itself as part of a new generation of private launch companies aiming to compete globally.
Expanding In A Growing Global Market
The global space launch market continues to grow as demand increases for satellite deployment, orbital logistics, Earth observation, communications infrastructure, and future space exploration missions.
Unastella joins a rapidly expanding group of private launch companies emerging across Asia, as countries seek to strengthen sovereign launch capabilities and capture a larger share of the global space economy.
The newly raised funding will support continued engine development, vehicle testing, team expansion, and preparations for future orbital launch missions.
About Unastella
Unastella is a South Korean SpaceTech company developing launch vehicles, rocket engines, and orbital transportation technologies. Founded in 2021, the company focuses on building commercially scalable launch services for small satellites while advancing South Korea’s position within the global space industry.
