MJOLNIR SPACEWORKS Secures ¥1.7 Billion in Series B Funding

MJOLNIR SPACEWORKS, a company striving to make space travel as accessible as car travel by focusing on the mass production of rocket engines, has announced a successful Series B funding round. The company raised ¥1.7 billion, with investments from Incubate Fund, Sparx Asset Management (Space Frontier Fund No. 2), JIC Venture Growth Investments, and Z Venture Capital.

Focus on Hybrid Rocket Engines

MJOLNIR SPACEWORKS is at the forefront of developing hybrid rocket engines, which utilize a combination of solid plastic fuel and liquid oxidizer. This approach offers enhanced safety due to the low explosion risk of the plastic fuel and a simplified design, facilitating mass production. The company is also innovating in the production of space-use weldless tanks, which streamline manufacturing processes by eliminating welding.

CEO Kazuo Yonekura, who holds a Ph.D. in Information Science and Technology from the University of Tokyo, leads the company. Yonekura's background includes experience as an associate professor at the University of Tokyo and in aerospace R&D at IHI.

Strategic Use of Funds

The newly secured funds will be directed towards several key areas:

  • Research and Development: Enhancing the thrust and reducing the weight of hybrid rocket engines.
  • Facility Expansion: Increasing the capacity of test facilities to support ongoing and future projects.
  • Material Costs and Capital Investment: Focusing on the design and manufacturing of next-generation engines.
  • Hiring: Bringing in specialists in avionics and structural design to strengthen the team.
  • Corporate Structure: Reinforcing the company's organizational framework to support growth.

These initiatives are aimed at establishing a reliable mass production system for rocket engines and tanks, ensuring a steady supply of components to meet future demand.

Aiming for the Future of Space Travel

MJOLNIR SPACEWORKS, established in January 2020 as a spin-off from IHI, continues to push the boundaries of space technology. By advancing the mass production of their hybrid rocket engines and weldless tanks, the company aims to revolutionize access to space, bringing the dream of widespread space travel closer to reality.