Isar Aerospace has secured a record-breaking funding of 155 million euros (equivalent to 165 million US dollars) in a Series C round. This makes it the biggest spacetech financing round in Europe so far this year. Moreover, within Germany, it also stands as the startup that has raised the highest investment amount in 2023.
The company does not provide any precise information on the company valuation, but the value has increased, it says. However, according to media reports, it was probably not enough for Unicorn status. Founded in 2018, the startup develops and builds launch vehicles that can be used to transport satellites into Earth orbit. Isar Aerospace says it has received more than 310 million euros since its launch.
Advertisement
New investor from Israel
The Munich-based startup has gained new investors in the form of Israeli family office 7-Industries and Bayern Kapital, alongside existing stakeholders, namely Earlybird, HV Capital, Porsche, UVC Partners, Vsquared Ventures from Germany, and Lakestar and Lombard Odier Investment Managers from Switzerland. According to reports, the funding has received support from the European Union and regional programs of the European Investment Fund.
Co-founder and CEO Daniel Metzler expressed his gratitude over the overwhelming interest shown by international investors and believes that it signifies their unwavering trust in the company’s vision and technological expertise. He also added that this funding round marks a significant step towards achieving their objective.
The raised capital will primarily be directed towards preparations for the first flight of the Spectrum launch vehicle, scheduled to take place in the second half of this year. Additionally, the company intends to expand and streamline its production capabilities through automation. As of now, the internally developed launch vehicle is in the production and testing phase.
Daniel Metzler, Josef Fleischmann, and Markus Brandl established Isar Aerospace five years ago as a spin-off of the Technical University of Munich / Germany. Since then, the startup has grown to employ over 300 individuals, serving a diverse clientele comprising government organizations, commercial enterprises, and emerging space companies.
