Isar Aerospace Secures $75M Funding - SpaceTech News

New Funding for Isar Aerospace Technologies

The demand for dedicated space launch services is rapidly increasing, prompting the emergence of numerous startup companies catering to satellite operators, biotechnology firms, and other entities requiring payload delivery to orbit. Among these is Isar Aerospace Technologies, a German company specializing in the development of orbital launch vehicles.

Series B Extension Secures Additional Investment

Isar Aerospace previously garnered attention in December with a $91 million Series B funding round, marking the largest of its kind within the European space launch sector. The company has now announced a further $75 million in a Series B extension, elevating the total funding secured in this round to over $165 million.

Key Investors Participate in the Round

HV Capital, Porsche SE, and Lombard Odier spearheaded the extension round. Existing investors, including Earlybird Venture Capital, Lakestar, Vsquared Ventures, Apeiron Investment Group, and UVC Partners, also contributed, with Earlybird making the most substantial investment. Earlybird and Airbus Ventures previously led Isar’s $17 million Series A funding in December 2019.

Porsche SE’s Investment Highlights Growing Interest

The involvement of Porsche SE – a significant shareholder in Volkswagen – is particularly noteworthy. This demonstrates a rising interest among established mobility investors in space-based technologies and connectivity solutions.

Porsche SE’s Perspective on Space Access

Lutz Meschke, a member of the Porsche SE executive board, stated: “We firmly believe that affordable and adaptable access to space will be essential for fostering innovation in both established industries and emerging, disruptive technologies and business models.” He further added, “We are therefore pleased to support Isar Aerospace as it strives to become Europe’s premier small launcher, meeting the increasing demand for launch services.”

Funding to Accelerate Development and Manufacturing

This new capital injection is expected to significantly accelerate the company’s ongoing development and manufacturing processes as it approaches its anticipated first test flight scheduled for 2022.

Spectrum Rocket Production Underway

Isar initiated production of its first launch vehicle, the Spectrum rocket, earlier this year. The Spectrum is a two-stage rocket engineered for efficient and lightweight payload delivery to low-Earth orbit. The core concept is to provide a rapid and cost-effective launch solution for companies specializing in small satellites.

Strategic Partnerships for Testing and Launch Operations

Isar plans to conduct engine tests in Kiruna, Sweden, and launch operations from Andøya, Norway, facilitated by a 20-year agreement with Andøya Space granting exclusive access to one of its launch complexes. The company has already secured its initial customer, Airbus Defence and Space, and anticipates announcing further contracts in the near future.

Origins at Munich Technical University

The startup originated from Munich Technical University, where co-founders Daniel Metzler, Josef Fleischmann, and Markus Brandl were pursuing engineering studies. While a substantial number of new launch companies are based in the United States, Isar is spearheading a parallel movement within Germany.

Isar CEO on the Importance of a Competitive Space Ecosystem

According to Isar CEO Daniel Metzler: “A robust and diverse space ecosystem will be vital for the advancement of humankind in the coming decades.” He continued, “We are confident that European collaboration, a fair competitive environment, and a demand-driven approach will provide customers with access to varied and internationally competitive launch capabilities for a wide range of payloads. The U.S. experience demonstrates that contracts based on actual demand – rather than political considerations – are crucial for stimulating innovation and growth within the space sector.”