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.
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