Isar Aerospace has closed their $165 million (155 million euros) Series C round — the funding enables Isar Aerospace to continue its journey toward the inaugural flight and ramp-up the cadence of the company’s Spectrum launch vehicle and will also enable the scaling of its proven production capabilities to serve the company’s strong order book for launches of small and medium-sized satellites as global demand rises.
Simultaneously, the Series C will allow the company to continue investing in developments for new initiatives and products, and to continue building on its vertical integration, especially its automated production capabilities that significantly lower the cost of building rockets.
The record round underlines Isar Aerospace’s leading position in the commercial space industry. At the same time, it highlights the company’s role in strengthening Europe’s capabilities for consistent, flexible, and cost-efficient access to space for commercial and institutional customers worldwide. With a total financing amount raised of more than $330 million (310 million euros), Isar Aerospace is the most capitalized independent New Space company in the European Union.
The round is backed by 7-Industries Holding, Bayern Kapital via its Scale Up Fund Bavaria, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche Automobil Holding SE (Porsche SE), UVC Partners, and Vsquared Ventures. Investors Porsche SE and HV Capital will join Isar Aerospace’s Advisory Board together with 7-Industries Holding joining in an observer capacity. Part of the funds provided by the private investors is backed by the European Union and regional programs managed by the European Investment Fund, such as InvestEU and the German Future Fund.
The strong interest and commitment from our international investors signals their confidence in our vision and technological capabilities. Today, and even more so tomorrow, space technologies are key to enabling innovation, technology and security. Isar Aerospace offers the access to space that is urgently needed for commercial, institutional and government customers. This financing round marks another important step on our journey to orbit.”
Daniel Metzler, Co-Founder and CEO of Isar Aerospace
We are thrilled to have concluded this round of financing in a difficult global market environment, building on strong investor demand and the company’s steady progress, at an increased valuation compared to our Series B in July 2021.”
David Kownator, Chief Financial Officer of Isar Aerospace
The undeniably most common building block of any space application is reliable and affordable access to orbit. Isar Aerospace is a catalyst for the tremendous growth of the sector. With a crisp and fast execution, focus on quality, and establishing capabilities for future volume production, Isar Aerospace is emerging as a strong leader in the space economy. I am extremely pleased to have been a part of the journey from day one and look forward to the upcoming first launches.”
Bulent Altan, Chairman of the Advisory Board and seed investor in Isar Aerospace
