STUTTGART, 28 July 2021 (Porsche PR) — Porsche Automobil Holding SE (“Porsche SE”), Stuttgart, acquires a low single-digit percentage stake in Isar Aerospace Technologies GmbH (“Isar Aerospace”), Ottobrunn, Munich. The company develops and manufactures launch vehicles for the transport of satellites. The investment was part of a new financing round of Isar Aerospace.
New financing led by HV Capital, Porsche SE, and Lombard Odier, with substantial participation from existing investors Earlybird, Lakestar, Vsquared Ventures, and Apeiron
With a total financing volume of more than USD 180m (EUR 150m), Isar Aerospace is the most well-funded space start-up in the European Union
First launch service provider based in Europe able to meet the rising global demand for flexible and cost-efficient launch services necessary for many breakthrough technologies
MUNICH, 28 July 2021 (UVC PR) – Isar Aerospace solidifies its position as the leading and most well-funded private European launch service provider focusing on small and medium satellites by extending its Series B to over USD 165m. The extension round of USD 75m is led by HV Capital, holding company Porsche Automobil Holding SE and banking group Lombard Odier. Existing investors Earlybird Venture Capital, Lakestar, Vsquared Ventures, Apeiron Investment Group, and UVC Partners also participated in the round, of which Earlybird Venture Capital subscribed the largest part. This new funding – increasing the total financing volume of Isar Aerospace to more than USD 180 million – turns Isar Aerospace into the space start-up with the strongest funding and the fastest growing private launch service company out of the European Union offering global customers flexible space access and meeting the rising global demand. The funding will allow Isar Aerospace to further invest in its launch, testing, and manufacturing infrastructure for its largely automated rocket production and commercial operations, as the company eyes its first test flight in 2022.
Munich-based Isar Aerospace has raised 75 million euros ($91 million) from investors to further development of its Spectrum small-satellite launch vehicle.
Swiss venture fund Lakestar led the Series B round with the participation of existing backers Airbus Ventures, Earlybird, Vsquared Ventures and former SpaceX executive Bulent Altan.
Spectrum is a two-stage vehicle designed to lift up to 1,000 kg (2,204 lb) into low Earth orbit. It will be equipped with a multi-ignition second stage engine that will provide flexibility in delivering payloads to precise orbits. Isar is designing the vehicle with satellite constellations in mind.