Toyota's mobility subsidiary, Woven by Toyota, will invest $44.3 million into Interstellar Technologies (IST), a Japanese rocket company. The investment, part of a business alliance, aims to leverage Toyota's automotive expertise to make rocket manufacturing more efficient and scalable. Woven by Toyota will also appoint a director to IST's board and support rocket production through supply chain and governance strengthening.
Toyota ’s mobility subsidiary will invest $44.3 million into a Japanese rocket company. Interstellar Technologies is slated to receive Woven by Toyota ’s multimillion-dollar investment "by the first close" of its Series F fundraising, the rocket company said Tuesday. It also announced a "business alliance" with Toyota .
The announcement came after Toyota Chairman Akio Toyoda's speech at the CES trade show in Las Vegas on Monday, when he gave updates to the company's experimental Woven City project, which was announced in 2020. "The future of mobility shouldn't be limited to just Earth, or just one car company," Toyoda said. "Speaking of the sky, we're exploring rockets, too.
TOYOTA AUTOMOTIVE ROCKET INVESTMENT SPACE EXPLORATION
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