Funds pour into 'Materials, Components and Equipment,' a space project created by a professor

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StepLab, a company specializing in ultra-small satellite systems based on space mechanism technology, secured 11 billion won in Series A funding on the 5th. Participants in this investment include Company K Partners, Kolon Investment, IBK Venture Capital, Mirae Asset Venture Investment, SL Investment, the Korea Credit Guarantee Fund, and DeCamp (Banking Youth Startup Foundation). Existing investor Company K Partners made a follow-on investment.

StepLab, established by Professor Oh Hyun-woong of Korea Aerospace University along with his students, has secured capabilities in payload and ultra-small satellite system development based on space mechanism technology that "grasps, releases, deploys, and moves" satellites.

Company K Partners, which led this investment, first invested in StepLab as an institutional investor in 2024. Kang Sang-soo, Head of Investment at Company K Partners, stated, "We made the first investment in 2024 because we highly valued Oh Hyeon-ung (CEO)'s experience accumulated at the Japan Aerospace Exploration Agency (JAXA), the Agency for Defense Development (ADD), and other organizations. After observing StepLab steadily execute its plans over the past two years, we gained confidence in its growth, which led to this second investment."

Lee (CEO) explained, "Oh Hyeon-ung (CEO) possesses know-how related to structural analysis design of critical satellite structures, as well as solutions for thermal analysis required in extreme space environments and reducing launch shock and vibration caused by gravitational acceleration reaching up to 10G during rocket launches. While StepLab refers to its work as 'mechanism,' from my perspective, StepLab's business scope covers the entire range of materials, components and equipment related to satellites, as well as system development."

Although StepLab was established in June 2021, Oh Hyeon-ung (CEO)'s satellite career spans over 20 years. After graduating from the University of Tokyo in 1999, he dedicated himself to satellite technology research at JAXA. Later, after working at ADD, he launched 'STEP CubeLab (Bithgoeul-1)' in India in 2018 while employed at Jo Seon-dae (Prof.). The name 'StepLab' originated from this project.

StepLab's flagship product is the Separation Ring, a launch vibration-damping separation device that connects and separates satellites from launch vehicles. It is also independently developing the STEP POD, a cube satellite ejection tube that integrates its proprietary vibration damping technology (VIS). The STEP POD will be applied to the 16U CubeSat 'DaejeonSAT-1' on Nuri's fifth launch this year. Through this launch, StepLab is approaching space heritage verification for the product.

No Min-sik, an executive at Kolon Investment, stated, "StepLab has secured a competitive advantage over existing overseas mechanisms by integrating shape-memory alloy-based ultra-elastic vibration damping technology into space mechanisms, establishing a differentiated design concept that structurally reduces vibration and shock during separation. We judged that it has strong potential to leap as a leading domestic company as an essential module provider possessing high-difficulty mechanism technology."

StepLab is also expanding its technological reach in the payload sector. It secured core technologies for SAR satellite payloads by developing Korea's first 4-meter class three-stage deployable synthetic aperture radar (SAR) mesh antenna. Recently, through ScaleUp Tips (TIPS), it has been developing an AI-based zoom optical module for Space Domain Awareness (SDA). This next-generation optical payload applies AI image processing and high-precision gimbal technology to perform wide-area and narrow-area exploration with a single camera, enhancing the detection and tracking capabilities of space objects.

Lee Gang-su (CEO) said, "As satellite launches increase in the future and numerous SAR satellites are sent into space, demand for deployable structures is expected to rise." He added, "With growing demand for large deployable structures, satellite separation systems, vibration damping systems, and others, the related market will expand." He further noted, "StepLab is virtually the only domestic company handling large deployable structures. The vibration damping solution is also unique to StepLab, and there is currently a demand for localizing satellite separation systems that are predominantly foreign-made."

StepLab will invest this funding into the global commercialization of space mechanism products that have secured space flight verification and the establishment of the Yangsan system. Next-generation payload technologies such as SAR mesh antennas and AI-based zoom optical modules will pursue space verification linked to national R&D projects according to each product's technology maturity level, with subsequent commercialization gradually expanded.

Executive No Min-sik remarked, "This year is expected to be the foundational year for StepLab in securing multiple space verifications." He predicted, "Having overcome the important hurdle of 'verification references,' it will be possible to begin full-scale business expansion from satellite and launch vehicle components to satellite payloads and entire satellite systems."

Oh Hyun-woong, CEO of StepLab, emphasized, "Through this investment, we will fully launch the global commercialization of space mechanism products and pursue space verification for next-generation payload technologies. Based on our technological competitiveness covering space mechanisms, payloads, and ultra-small satellite system technologies, we aim to grow into a global space systems company."

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