[Press Release] Unastella Raises KRW 33.5 Billion Series B Led by Altos Ventures After Becoming First Private Company to Launch a Rocket from Korean Soil

New and existing investors including Altos Ventures, Korea Development Bank, Strong Ventures, and Hana Ventures joined the KRW 33.5 billion Series B round, bringing Unastella’s total funding to KRW 61.5 billion. 

In May 2025, Unastella successfully test-launched its self-developed launch vehicle, UNA EXPRESS-I, from Korean territory, proving its differentiated technical capabilities and execution. 

Unastella, the Korean space launch vehicle startup that became the first private company to successfully launch a rocket from Korean soil, has closed a KRW 33.5 billion Series B round. The round was led by Altos Ventures, with participation from leading domestic and international new and existing investors including Korea Development Bank (KDB), Strong Ventures, KDB Capital, Woori Venture Partners, Samho Green Investment, and Hana Ventures. The round brings Unastella’s total funding to KRW 61.5 billion. 

Founded in February 2022, Unastella is developing the UNA EXPRESS series of small-class launch vehicles based on its self-developed electric-motor-pump cycle engine. The company aims to provide satellite launch services and 100-kilometer sub-orbital crewed spaceflight services. 

On May 28, 2025 — about three years after the company was founded — Unastella successfully test-launched UNA EXPRESS-I from its proprietary launch site in Goheung, South Jeolla Province. The mission marked the first time a private company in Korea designed, built, and launched a rocket from domestic territory. The vehicle carried microgravity payloads from five Korean research institutions, including the Korea Aerospace Research Institute (KARI) and the Korea Institute of Machinery & Materials (KIMM). It was also the first operational mission to apply technology developed under the Korea AeroSpace Administration’s “Space Pioneer Program.” 

Through the test launch, Unastella not only validated its integrated launch capability but also led the regulatory, permitting, and on-site operations workstreams required for a domestic private launch. In doing so, the company demonstrated that a private company in Korea can directly design, manufacture, and launch a launch vehicle.

Unastella is now advancing its proprietary electric-motor-pump cycle engine, built on patent technology transferred from KARI, and is in discussions to use the private launch facility at the Naro Space Center.

Series B proceeds will fund engine and next-generation launch vehicle development, key talent acquisition, and expansion of Unastella’s testing, manufacturing, and launch infrastructure. 

“Based on last year’s successful test launch, we were able to close this Series B round and establish a foundation to take the company to the next stage,” said Jae Hong Park, founder and CEO of Unastella. “We will prove that a private-sector-led space industry is possible in Korea and build a sustainable launch vehicle business that connects satellite launches to crewed spaceflight.” 

“Unastella is a team with proven execution, having created the first case in Korea in which a private company launched a self-developed rocket from Korean soil,” said an Altos Ventures spokesperson. “As global demand for small-satellite launches continues to grow rapidly, we expect Unastella to become a company that represents Korea’s NewSpace industry.” (End) 

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