Unastella

About Unastella

Unastella is a South Korean aerospace startup, established in February 2022 by CEO Park Jae-hong, a former rocket engine researcher. The company is positioned as the nation's first private enterprise focused on developing manned space launch vehicles. Its core mission is to provide suborbital space travel services, with a vehicle designed to carry six people to an altitude of over 100 kilometers.

The company's primary business involves the design and development of its own launch vehicles, with a focus on creating a platform for human spaceflight and microgravity experiments. Unastella is pursuing a fabless business model, concentrating on design and development while outsourcing manufacturing to maintain speed and efficiency. Revenue will be generated from offering suborbital space tourism and providing launch services for satellite missions.

Unastella's technical approach centers on a liquid oxygen/kerosene-fueled rocket powered by an electric motor pump cycle engine system, a design choice aimed at developing low-cost, high-efficiency launch vehicles. The company has secured key technology through transfer agreements with the Korea Aerospace Research Institute (KARI) for electric pumps and propellant supply systems. A significant milestone was achieved in early 2023 with the successful ground combustion test of its 50 kN thrust combustor.

Since its inception, Unastella has secured significant financial backing. A seed investment from Blue Point Partners in March 2022 was followed by a grant from the South Korean government's TIPS program in April 2022. The company raised $4.4 million in a pre-Series A round in January 2023 and subsequently secured $14.6 million in a Series A round in September 2024, bringing its total funding to over $21 million. Key investors include Strong Ventures, Hana Ventures, InterValue Partners, and SBI Investment.