South Korean launch startup Innospace suffered a setback after its Hanbit-Nano rocket crashed shortly after liftoff during its first commercial launch from Brazil's Alcântara Space Center, Brazilian and company officials said.
The rocket lifted off late on Monday but experienced an anomaly about two minutes into flight before crashing to the ground, according to Brazil's air force. Emergency teams were sent to secure the impact area and assess the wreckage. No injuries were reported.
The failed launch sent Innospace shares down about 24% in Seoul trading, the company's biggest intraday drop in months. The mission had already faced multiple delays due to technical checks and weather, and was carrying several small satellite payloads for undisclosed customers.