German satellite launch company Isar Aerospace has raised US$165 million in a Series C round.
The new injection of funds comes at a a fortuitous time for the startup, as it prepares for the inaugural flight of its launch vehicle Spectrum in the second half of 2023. The round is backed by 7-Industries Holding, Bayern Kapital, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche SE, UVC Partners, and Vsquared Ventures. It brings the total raised by Isar Aerospace, which was founded in 2018, to over US$330 million, making it, according to Isar Aerospace, the most capitalised independent New Space company in the EU. The Munich based company said it will use its new funds to “ramp-up cadence” of its Spectrum launch vehicle.
Munich based Isar Aerospace Technologies is developing a two-stage launch vehicle called Spectrum to serve the small satellite market. Courtesy: Isar Aerospace.
