The funding will enable Isar Aerospace to continue its journey towards the inaugural flight and ramp up the cadence of its Spectrum launch vehicle.
Satellite launch service company Isar Aerospace has secured $165m in a Series C round.
With a total financing amount raised of more than $330m, Isar Aerospace is the most capitalised independent New Space company in the European Union.
The round is backed by 7-Industries Holding, Bayern Kapital via its Scale Up Fund Bavaria, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche Automobil Holding SE (Porsche SE), UVC Partners, and Vsquared Ventures.
Part of the funds provided by the private investors is backed by the European Union and regional programs managed by the European Investment Fund, such as InvestEU and the German Future Fund.
The funding enables Isar Aerospace to continue its journey towards the inaugural flight and ramp-up the cadence of its Spectrum launch vehicle. It will also enable the scaling of its production capabilities to serve the companys order book for launches of small and medium-sized satellites as global demand rises. At the same time, Series C will allow the company to keep investing in developments for new initiatives and products, and to continue building on its vertical integration, especially its automated production capabilities that significantly lower the cost of building rockets.
Speaking about the funding, Daniel Metzler, Co-Founder and CEO of Isar Aerospace, said: The strong interest and commitment from our international investors signals their confidence in our vision and technological capabilities. Today, and even more so tomorrow, space technologies are key to enabling innovation, technology and security. Isar Aerospace offers access to space that is urgently needed for commercial, institutional and government customers. This financing round marks another important step on our journey to orbit.
David Kownator, Chief Financial Officer of Isar Aerospace, added: We are thrilled to have concluded this round of financing in a difficult global market environment, building on strong investor demand and the companys steady progress, at an increased valuation compared to our Series B in July 2021.
Bulent Altan, Chairman of the Advisory Board and seed investor in Isar Aerospace, stated: The undeniably most common building block of any space application is reliable and affordable access to orbit. Isar Aerospace is a catalyst for the tremendous growth of the sector. With a crisp and fast execution, focus on quality, and establishing capabilities for future volume production, Isar Aerospace is emerging as a strong leader in the space economy. I am extremely pleased to have been a part of the journey from day one and look forward to the upcoming first launches.
