Funding

Isar Aerospace Funding News – Isar Aerospace Raises €65M Series C Funding

Jun 21, 2024 | By Team SR

Satellite launch service company Isar Aerospace announced a significant extension of its Series C round by more than EUR 65m, now totaling more than EUR 220m. The extension received a strong commitment from NATO Innovation Fund (NIF), a standalone venture capital fund backed by 24 NATO Allies which deploys EUR 1bn+ to empower deep tech companies addressing challenges in defence, security and resilience.

SUMMARY

  • Satellite launch service company Isar Aerospace announced a significant extension of its Series C round by more than EUR 65m, now totaling more than EUR 220m.
  • The company was founded in 2018 and has since grown to more than 400 employees from more than 50 nations.

This marks the first-ever direct investment in a satellite service launch provider from the NATO Innovation Fund and highlights the multifaceted importance of space technologies, which are pivotal for both civilian innovation and defence capabilities.

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Other new investors in the extension round included the European family office G3T as well as 10x Group, Besant Capital, Finadvice Med HOLDINGS and LP&E. Existing investors Lakestar, Earlybird, Airbus Ventures, Bayern Kapital and UVC Partners also participated significantly in the extension round.

Andrea Traversone, Managing Partner of the NATO Innovation Fund, said: “Access to space is critical to the technological sovereignty of Europe and the UK. Space technologies like Isar’s hold immense promise and will enable us to build a secure and prosperous future for generations to come. We will support Isar with adoption pathways across government and commercial opportunities.”

Leading nations, including the United States, already shifted their space and defence strategies to rely heavily on commercial space capabilities, as procuring private commercial services and products is more innovative, efficient and, above all, more cost-efficient.

Daniel Metzler, Co-Founder and CEO of Isar Aerospace, said: “The investment by the NATO Innovation Fund in Isar Aerospace is a strong sign of confidence in our approach and underlines the fundamental role of space technologies for our economies and societies. Even more, it shows that European governments need to promote and leverage private innovation and products to keep up globally.”

With more than EUR 400m in total funding since its foundation in 2018, Isar Aerospace is the most capitalized independent New Space company in Europe. It has established itself as a technological leader, having developed proprietary know-how through full vertical integration as well as owning design, production, and testing operations entirely in-house.

This latest funding will enable Isar Aerospace to continue investing in the build-up and equipment for its series production. The company’s high degree of automation and scalability positions Isar Aerospace to serve the increasing private and public sector demand for transporting small and medium-sized satellites and satellite constellations into space.

About Isar Aerospace

Isar Aerospace, based near Munich, develops and builds launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth’s orbit. The company was founded in 2018 and has since grown to more than 400 employees from more than 50 nations with decades of hands-on rocket know-how and experience within other high-tech industries.

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