Isar Aerospace is based in Ottobrunn near Munich and develops and builds launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth orbit. The spacetech startup was founded in 2018 as a spin-off from the Technical University of Munich. According to the company, more than 300 employees are currently working toward the maiden flight of the ‘Spectrum’ launch vehicle, scheduled for the second half of 2023 from Andøya in Norway. Additionally, the ‘Aquila’ engine, developed and manufactured entirely in-house, is currently undergoing engine tests. The applications of satellites that the company transports into Earth orbits include environmental monitoring and protection, Earth observation, telecommunications, agriculture, disaster management, transport, scientific research, and security.
“Isar Aerospace opens access to space”
Bayern Kapital with the Scaleup Fund Bavaria, 7-Industries Holding, Porsche, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier, UVC, and Vsquared Ventures participated in the Series C round. The newly raised funds will be used, in addition to intensifying development, to expand automated and thus cost-efficient production capacities.
Daniel Metzler, co-founder and CEO of Isar Aerospace, explains:
“The strong interest from our international investors underscores their confidence in our vision and technological capabilities. Access to space is the key to innovation, technological development, and security – today and even more so in the future. Isar Aerospace opens access to space, which is urgently needed by commercial, institutional, and government customers. This financing round is an important milestone on our journey to orbit.”
“Booked for years to come”
Bavaria’s Minister of Economics Hubert Aiwanger says:
“Startups like Isar Aerospace are taking Bavaria’s space technology sector to a new level. The company is an outstanding example: it provides reliable and affordable access to space for important applications such as climate monitoring. With our Scaleup Fund Bavaria, we support such technology leaders on their path to becoming internationally operating companies.”
And Monika Steger, managing director of Bayern Kapital, emphasizes:
“Isar Aerospace’s flights are already booked for years to come – this underscores the demand for cost-efficient access to orbit. We are delighted to accompany Isar Aerospace as part of an international investor group on its continued steep upward trajectory.”
