The largest fundraising to date in 2023 in the field of space technology has just been completed by the Munich-based startup on a global scale.
A New Space Champion in Europe
Munich-based startup Isar Aerospace, which has been developing the Spectrum (Spectre, in French) microlancer since 2018, announced on March 28 that it had closed its Series C funding round, resulting in a €155 M raise.
This is the largest fundraising to date in 2023 in space technology globally, and one of the largest in DeepTech in Europe.
Most of the investors are European : 7-Industries Holding, Bayern Kapital, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche SE, UVC Partners and Vsquared Ventures.
With a total financing of more than €310 M, Isar Aerospace becomes the most capitalized independent company in the European Union in the field of new space technologies (New Space).
" The strong interest and commitment of our international investors is a testament to their confidence in our vision and technological capabilities " said a delighted Daniel Metzler, co-founder and president of Isar Aerospace. Today, and even more so in the future, space technologies are critical to driving innovation, technology and security. Isar Aerospace provides critically needed access to space for its commercial, institutional and government customers. This fundraising marks another important step in our journey to Earth orbit."
Inaugural flight before the end of the year
Supported by the German Aerospace Center (DLR), the first flight of the Spectrum bi-stage microlancer is now expected in the second half of this year.
It will take place from the Andøya launch base in Norway and will embark to a polar orbit 8 microsatellites (150 kg payload).
The launcher, equipped with engines using a mixture of propane and liquid oxygen, has a capacity of 1 t in low earth orbit, or 700 kg in sun-synchronous orbit.
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