Toyota to invest over $44M in rocket company

Investment Overview - Woven by Toyota will invest $44.3 million into Interstellar Technologies (IST) as part of its Series F fundraising [1] - This investment is expected to be completed "by the first close" of the fundraising round [1] Business Alliance - A business alliance has been established between Woven by Toyota and IST, focusing on leveraging automotive industry expertise for rocket manufacturing [2] - Woven by Toyota's CEO expressed excitement about collaborating on mass production of rockets, aiming to combine manufacturing capabilities and expertise [2][3] Strategic Goals - IST aims to transition rocket manufacturing into a high-quality, cost-effective, and scalable process by utilizing Toyota's production methods [2] - The partnership will include appointing a director from Woven to IST's board and enhancing supply chains and corporate governance [3] Industry Context - The Japanese government aims for approximately 30 rocket launches per year by the early 2030s to meet growing domestic and international demand [5] - In 2022, only three rockets were launched in Japan, indicating significant room for growth in the industry [5] Historical Collaboration - Woven by Toyota and IST have been collaborating since 2020 through personnel exchanges, indicating a long-term relationship [4]