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.
PARIS (ESA PR) — ESA has signed the first three contracts with European economic operators arising from its permanently open call for proposals for commercial space transportation services.
Boost! – ESA’s Commercial Space Transportation Services and support to Member States programme was adopted at Space19+ and an Open call for proposals under its Element 1 was launched in April this year. Through this programme, ESA aims to stimulate and support competitiveness and new commercial European space transportation services.
MENLO PARK, Calif. (Airbus Ventures PR) — European space company Isar Aerospace has closed a 17-million-dollar Series A investment round led by Earlybird and Airbus Ventures to develop low-cost launch vehicles dedicated to deploying and resupplying satellite constellations.
Existing investors Vito Ventures and UVC Partners participated in the round alongside Bulent Altan who served 12 years at SpaceX including Vice President positions as well as Christian Angermayer’s Apeiron Investment Group.