The rocket service provider Isar Aerospace from Ottobrunn is strengthening its position as Europe's leading private provider of rocket launches: Investors are increasing the so-called Series B financing to around 140 million euros.
Ottobrunn
- This is what the company announced.
Accordingly, the new financing round from HV Capital, the holding company Porsche Automobil and the banking group Lombard Odier will be led with 64 million euros.
The participation of Porsche SE, the majority shareholder of Volkswagen AG, illustrates the "essential role of the space industry as a platform for the development of future technologies", announced the start-up.
The support from investors shows "that a whole range of investors have understood the importance of space technology as a trailblazer for many business models and groundbreaking innovations," says Managing Director Daniel Metzler.
Best financed Spave start-up in the EU
With a total financing volume of over 150 million euros, Isar Aerospace is the best financed space start-up in the European Union, the company announced.
Isar Aerospace is a launch service provider for small to medium-sized satellites.
The young company wants to meet the growing global demand for flexible and cost-efficient access to space.
The global market for so-called launches will probably rise to over 30 billion euros by 2027, according to the Ottobrunners.
Launch services for small and medium-sized satellites accounted for almost 10 billion euros.
Isar Aerospace is currently preparing the first test flight of its “Spectrum” rocket for the coming year.
mm
