Letara, a Hokkaido University spinout, has raised about ¥2. 6bn, roughly $16mn, for hybrid rocket engines that use plastic as fuel and are not legally classified as explosives. Germany’s HyImpulse raised €45mn for the same approach last October.
Source: [TNW](https://thenextweb.com/news/letara-hybrid-rocket-engines-funding-japan)