Funding

Alicante-based PLD Space Secures €78Million in Funding

Apr 25, 2024 | By Startup Rise EU

Spain-based PLD Space secures €78million in funding a figure that ensures the fulfillment of its next technological and corporate milestones that will culminate with the MIURA 5 launch mission at the end of 2025.

Spain-based PLD Space secures €78million in funding a figure that ensures the fulfillment of its next technological and corporate milestones that will culminate with the MIURA 5 launch mission at the end of 2025.

The company, which made history in October 2023 with the successful flight of MIURA 1, has to date received 78 million euros of investment from shareholders who have trusted in its accredited technological program and its solid business model.

Added to this amount are the 42 million euros of the PERTE of a Spanish space launcher, promoted by the Government of Spain, which it won at the end of January of this 2024 (1.5 million euros in July 2023 and 40.5 million euros in January 2024).

As for the PLD Space investor, it is a qualified industrial and institutional profile, as is the case of Aciturri or the Center for Industrial Technological Development (CDTI) through its Innvierte program, which provides both financing and strategic know-how. .

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The head of Business Development and co-founder of PLD Space, Raúl Verdú said, "Financing our activities has been one of the most difficult parts of our MIURA rocket family to develop. However, the successful launch of MIURA 1 has reinforced our position as industry leaders, a milestone that has been recognized by investors and customers,""PLD Space is a company that delivers what it promises, and we are working hard to achieve that first orbital launch of MIURA 5, which would not be possible without the trust of our shareholders, customers, team and suppliers."

The main destination of the funds obtained is to guarantee the resizing of PLD Space's infrastructure, as well as its corporate structure. Specifically, the firm will multiply the size of its facilities by five, growing from 169,000 to 834,000 square meters.

Within this industrial expansion program, the company plans to inaugurate the first serial space rocket factory in Spain in mid-2024. Facilities that will also allow the vertical integration of the launchers. The warehouse, whose civil works are already underway, will house the factory of the first MIURA 5 units and the company's headquarters. In total, PLD Space will have 18,400 square meters of industrial facilities in Elche (Alicante).

Read also - London-based Camion Secures €2.7 Million in Pre-Seed Funding

The Spanish company's growth plan also includes the next phase of extension of its test benches, which will go from 154,000 to 800,000 square meters. PLD Space thus reinforces one of its competitive advantages, having proprietary qualification facilities, providing flexibility in the execution of test campaigns, as well as a reduction in development times and greater cost optimization.

About PLD Space

PLD Space is a pioneering Spanish company in the aerospace sector and a benchmark in Europe in the development of reusable rockets, with recognized prestige in the sector and a solid project that is materialized in its MIURA family of launch vehicles. Some launchers that place Spain among the small number of countries with the capacity to successfully send small satellites into space.

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