Isar Aerospace, a Munich, Germany-based satellite launch service company, raised USD 165M in Series C funding.
The round was led 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. Investors Porsche SE and HV Capital will join Isar Aerospace’s Advisory Board together with 7-Industries Holding joining in an observer capacity. 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 company intends to use the funds to advance towards the inaugural flight and ramp-up the cadence of its Spectrum launch vehicle, scale its production capabilities to serve its order book for launches of small and medium-sized satellites as global demand rises, and keep investing in developments for new initiatives and products, and continue building on its vertical integration, especially its automated production capabilities that lower the cost of building rockets.
Founded in 2018 and led by CEO Daniel Metzler, Isar Aerospace develops and builds launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth’s orbit. The company has signed firm contracts with customers globally, including major commercial players, New Space companies, and government institutions. Isar Aerospace started the production of the maiden flight vehicle while entering the qualification stages for its vehicle systems. The entirely in-house developed and manufactured Aquila engine is undergoing engine testing and qualification. At the same time, the company is finalizing the build-up of its launch infrastructure at the launch site in Andøya, Norway, from where the inaugural flight of its launch vehicle Spectrum, which is planned for the second half of 2023, will take place.
Today, Isar has more than 300 employees from more than 40 nations with many years of hands-on rocket know-how and experience within other high-tech industries.
FinSMEs
28/03/2023