Unastella, a South Korean company developing small rocket launch vehicles, closed a ₩33.5bn Series B round, announced on 2 June 2026. Altos Ventures led the round, according to Seoul Economic Daily and Ventureburn.
The won amount is about $22m at the announcement-date rate. Ventureburn, citing TechCrunch, converted it to about $24m, so dollar figures differ between outlets while the won figure is the same in all of them. Total funding since the company's founding in February 2022 is ₩61.5bn, or about $44m in Ventureburn's conversion.
No valuation was disclosed.
“Through this Series B round, we have laid the groundwork to take the company to the next level.”Park Jae-hong, CEO, Unastella
Who invested
Besides Altos Ventures, the round included Korea Development Bank, Strong Ventures, KDB Capital, Woori Venture Partners, Samho Green Investment and Hana Ventures. The company's homepage describes the investors as a mix of new and existing backers.
The sources opened did not itemise the company's earlier rounds, so no history is listed here.
Seoul Economic Daily and Ventureburn both list the same seven institutional investors by name, and neither reported how much each contributed.
What Unastella does
Unastella is developing the Una Express series of small launch vehicles, which use electric motor pump cycle engines, according to Seoul Economic Daily. The company is headed by chief executive Park Jae-hong. Ventureburn put its headcount at about two dozen and its headquarters in Seoul.
On 28 May 2025 the company test-launched Una Express 1 from Goheung County in South Jeolla Province. Seoul Economic Daily called it the first time a private company had independently launched a domestically developed rocket from Korean territory. The vehicle is 9.45 metres long, weighs 2 tons and has a 5-ton-thrust engine. It carried microgravity testing equipment from five research institutions, including the Korea Aerospace Research Institute and the Korea Institute of Machinery and Materials, and was the first actual launch application of the Korea AeroSpace Administration's Space Pioneer programme.
What the money is for
The company said the funds will go to engine and next-generation launch vehicle development, recruiting key talent, and expanding testing, manufacturing and launch infrastructure.
Park Jae-hong said the round had laid the groundwork to take the company to the next level, and that Unastella would prove that a private-sector-led space industry is possible in Korea. The quotes were machine-translated from Korean by Seoul Economic Daily.
Where it fits
Seoul Economic Daily described the 2025 test launch as the first actual launch under the Korea AeroSpace Administration's Space Pioneer programme, which links the company to the government's push for a private-sector-led space industry. Ventureburn, citing TechCrunch, described Unastella as a four-year-old company.
The sources opened did not report revenue, a valuation or a date for the company's next launch. Reports in Korean and English agree on the lead investor, the won amount and the cumulative total, which is why the figures here are stated in won first.
Company website: unastella.com