UNASTELLA Closes $22.2M Series B Round to Advance Next-Generation Launch Vehicles

UNASTELLA, a South Korean private launch vehicle startup, has closed a Series B round worth approximately $22.2M (KRW 33.5 billion). The round was led by Altos Ventures, with participation from KDB(Korea Development Bank), Strong Ventures, Hana Ventures, KDB Capital, Woori Venture Partners, and Samho Green Investment, joining as new and returning investors. The latest financing brings the company’s total funding raised to $40.8M (KRW 61.5 billion).

Founded in February 2022, UNASTELLA made history on May 28, 2025, when it successfully conducted a test launch of its small launch vehicle, UNA EXPRESS-I, from its own launch site in Goheung, South South Jeolla Province — becoming the first private company in South Korea to independently launch a self-developed rocket from domestic soil. The vehicle carried microgravity test equipment from five research institutions, including the Korea Aerospace Research Institute (KARI) and the Korea Institute of Machinery and Materials (KIMM). The launch also marked the first time payload from the Korea AeroSpace Administration’s Space Pioneer program was flown on an actual mission.

The company is developing its proprietary engine based on electric motor pump technology originally transferred from KARI, and is in talks to secure access to a dedicated private launch pad at the Naro Space Center. Proceeds from the Series B will be deployed toward engine development, next-generation launch vehicle programs, key talent acquisition, and the expansion of its testing, manufacturing, and launch infrastructure.

Jaehong Park, CEO of UNASTELLA, said in a statement: “We want to prove that a privately led space industry is achievable in Korea, and we will build a sustainable launch vehicle business that spans from satellite launches all the way through to crewed spaceflight.”