Letara Raises $16.3 Million in Pre-Series A Funding

Letara, a company based in Sapporo, Japan, has successfully raised $16.3 million in a Pre-Series A funding round. The company specializes in the development of hybrid rocket engines that utilize plastic as fuel, offering a cost-effective and safer alternative to traditional propulsion systems. This round of funding, which took place on August 24, 2026, was co-led by Headline Asia and JIC Venture Growth Investments.

Investors and Funding Details

Alongside the lead investors, the round saw participation from a host of other backers including Incubate Fund, Aozora Corporate Investment, SMBC Venture Capital, NES Corporation, Gogin Capital, Toyoda Gosei, BIG Impact, Frontier Innovations, Mitsui Sumitomo Insurance Venture Capital, Mitsubishi UFJ Capital, and mint. The funding exceeded Letara's initial targets, highlighting significant investor confidence in the company's innovative approach.

Company Leadership

Letara is co-led by Landon Kamps and Shota Hirai, who serve as Co-CEOs. The company's technology originated from research conducted at Hokkaido University. "Our propulsion system offers a unique combination of safety and cost-effectiveness," said Landon Kamps, reflecting on the advantages of using plastic as a fuel source.

Use of Funds

The newly secured funds are earmarked for accelerating the development and commercialization of Letara's hybrid rocket engines. The technology is intended for a variety of applications, including launch, on-orbit propulsion, defense, and security sectors. The company aims to leverage common commercial supply chains, making its propulsion systems easier and less expensive to manufacture at scale.

Innovative Technology

Letara’s hybrid propulsion system uses a proprietary fuel design and manufacturing process, enabling stable combustion and high thrust. Unlike conventional rocket engines, Letara's system does not fall under the legal category of explosives, offering potential safety benefits. The company's patented ignition system is designed to ensure reliable firing even at low power levels, making the technology adaptable to a range of sizes, including palm-sized engines.