Munich-based spacetech startup Isar Aerospace has raised €155 million in a Series C funding round that will see the company continue to drive towards the liftoff of its Spectrum launch vehicle. To date, the company has raised approximately €324 million.
Isar Aerospace’s €155 million Series C round was provided 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.
A spinout from the esteemed Technische Universität München, Isar Aerospace was founded in 2018 with the aim of developing the first German launch vehicle to transport small and medium-sized satellites, as well as satellite constellations, into low Earth orbit (LEO).
According to Isar Aerospace, they’ve begun production of their inaugural space flight vehicle, dubbed Spectrum, and are targeting liftoff in H2 of this year from a launch site in Andøya, Norway.
Isar Aerospace seed investor and former VP, Satellite Mission Assurance at SpaceX, Bulent Altan commented, “The undeniably most common building block of any space application is reliable and affordable access to orbit. Isar Aerospace is a catalyst for the tremendous growth of the sector.
With a crisp and fast execution, focus on quality, and establishing capabilities for future volume production, Isar Aerospace is emerging as a strong leader in the space economy. I am extremely pleased to have been a part of the journey from day one and look forward to the upcoming first launches.”