With the new round, Isar Aerospace's total financing volume rises to over 180 million US dollars, making the company the best-funded and fastest-growing Space startup in the European Union. Existing investors Earlybird Venture Capital, Lakestar, Vsquared Ventures, Apeiron Investment Group, and UVC Partners are also participating in the financing round. The startup intends to invest the additional funds in its launch, testing, and manufacturing infrastructure for the largely automated production of launch vehicles and their commercial deployment.
"The support of new and existing investors is a strong signal for the momentum of commercial spaceflight. It shows that a wide range of investors have understood the importance of space technology as an enabler for many business models and groundbreaking innovations. As the best-funded space start-up in the European Union, we can provide flexible and cost-effective access to this platform. For the Isar Aerospace team, the new round means that we can further expand our leading position and invest in our infrastructure with even greater impact,"
says Daniel Metzler, CEO of Isar Aerospace.
Particular attention is paid to the participation of Porsche Automobil Holding, the holding company of the Porsche and Piëch families and majority shareholder of Volkswagen. It is considered a symbol of the role of the space industry as a platform for the development of future technologies and a central pillar for the future competitiveness of key industries. Satellite-based technologies related to connectivity and data processing have the potential to become the backbone of both traditional and emerging industries. The availability of launch capacities is essential for this.
Isar Aerospace plans test flight for 2022
Isar Aerospace is preparing its first test flight for 2022. This year, the company began production of its first launch vehicle and is about to start engine tests in Kiruna, Sweden, and commission the launch site in Andøya, Norway. The company signed a contract with Andøya Space earlier this year, securing exclusive access to a launch site for a period of up to 20 years. The first "Spectrum" launch vehicle will therefore launch from Norway. In the spring of this year, Isar Aerospace announced that it had received Airbus Defence and Space, its first major launch contract from an established space company. The space startup also secured the German federal government as an anchor customer as part of the European Space Agency's (ESA) Commercial Space Transportation Services program.
