Rocket Factory Augsburg, a German launch service provider has secured a €30 million investment from Kohlberg Kravis Roberts & Co., better known as KKR. The convertible debt investment arrives on the heels of Rocket Factory Augsburg’s May 2023 successful completion of an upper-stage hot first test, and action the startup claims to be the first of its kind in Europe.
The KKR investment will enable Rocket Factory Augsburg to complete the company’s launchpad at SaxaVord Spaceport in Scotland and to eventually bring its RFA ONE microlauncher to the site.
"Europe's independent access to space through European rockets is crucial for the companies and people based here. Currently, a few, mainly non-European players dominate access to space,” commented Rocket Factory Augsburg’s CEO Stefan Tweraser. “RFA puts Europe back in the game. KKR's investment validates our business model and sends a clear signal: Europe's space industry is gaining momentum."
On the investment, KKR partner and head of the DACH region Christian Ollig commented, “KKR is excited to support RFA in its efforts to revolutionize access to space, which is crucial for emerging technologies that will shape our future. The team’s exceptional track record of achieving technical milestones and their unwavering focus on cost leadership are precisely the right strategy for future success in the global marketplace. We look forward to supporting RFA on its growth path.”