On September 1, 2026, Spanish launch provider PLD Space announced an extension to its Series C financing round, securing an additional €108 million in equity capital. The tranche expands the total Series C round to €288 million and brings the company’s total cumulative funding raised to date to €488 million.
(CEO) & Co-founder (l to r)
Funding Context and Investor Architecture
The expansion tranche was led by Japanese industrial conglomerate Mitsubishi Electric Corporation, which previously led PLD Space’s initial €180 million Series C closing in March 2026. Spanish state-owned investment vehicle COFIDES co-invested in the extension alongside new participation from global venture capital fund Endeavor Catalyst and the Spain Oman Private Equity Fund (SOPEF), managed by MCH Private Equity. Banco Santander served as financial advisor, with legal counsel provided by Deloitte.
The capital expansion complements previous non-dilutive financing, including a €30 million venture debt facility from the European Investment Bank and a €158.9 million European Launcher Challenge contract awarded by ESA.
Capital Allocation and Industrial Specifications
The €108 million extension will fund industrial scaling for the MIURA 5 orbital launch vehicle. PLD Space is allocating capital across core operational and infrastructure domains:
- Production Capacity Expansion: Scaling automated manufacturing cleanrooms and engine assembly lines at the company’s 188,000 m² facilities across Elche and Teruel, Spain.
- Launch Infrastructure: Accelerating civil engineering construction at the ELM-Diamant launch pad at the Guiana Space Centre in Kourou, French Guiana.
- Flight Hardware Readiness: Qualifying reusable first-stage recovery hardware and high-thrust liquid engines for operational flight cadence.
Corporate Leadership Perspective
“This new milestone, which builds on the Series C round launched earlier this year, reinforces our capacity to execute PLD Space’s transition into a global commercial launch provider, while maintaining rigorous operational and financial discipline,” said Ezequiel Sánchez, Executive President of PLD Space. “The backing of top-tier industrial, public, and financial investors confirms the strength of our growth strategy and accelerates our ability to commercialise MIURA 5, scale our production capacity, and secure financially sustainable, long-term commercial operations.”
Operational Roadmap and Flight Schedule
PLD Space is completing integration and environmental qualification testing for the inaugural MIURA 5 flight vehicle. Initial launch operations are scheduled to commence from Kourou later in 2026, with plans to scale production toward a commercial cadence of 30 launches per year by 2030.
