Unastella, a four-year-old South Korean rocket startup, has just closed a $24M Series B, bringing its total funding to $44M. The company launched its UNA EXPRESS-I from home soil in May 2025, focusing on small satellite launch services and developing its own engines.

Founder and CEO Jae Park, who has spent his career working on rocket engines, explains that Unastella is not an R&D group but a commercial launch company. The startup uses kerosene and liquid oxygen propulsion systems, with electric motor pumps for simplicity and cost-effectiveness.

The UNA EXPRESS-II targeted for next year will see the company reach 100 kilometers, opening doors to partnerships with South Korea’s major aerospace firms. South Korea's commercial launch sector is still in its early stages but is rapidly evolving, driven by government support and private investment.

With the global space launch market projected to nearly triple from $15B to $41B by 2030, Unastella joins a growing list of players including China’s Galactic Energy, LandSpace, iSpace, Japan’s H3 rocket, Australia’s Gilmour Space, and Rocket Lab.