German rocket manufacturer Isar Aerospace has raised €155 million ($167.57 million) in a new financing round to fund its Spectrum launch vehicle. The maiden flight of the launch vehicle, which is designed to put small and medium-sized satellites into orbit, is scheduled for the second half of 2023 from a launch pad in Norway. Among the investors in this latest funding round is German carmaker Porsche SE, who will also join the supervisory board. Isar Aerospace’s CFO, David Kownator, revealed that the company has secured enough clients for its maiden flight, and the order books are already well filled. The company’s CEO, Daniel Metzler, said that the latest funding round is an important milestone on the company’s path to orbit. The successful funding round highlights the company’s potential to compete with industry giants like SpaceX.
German SpaceX Rival Isar Raises $168 Million, Boosting Launch Plans
Isar Aerospace, a Munich-based rocket manufacturing firm, has raised €155 million ($167.57 million) in a new financing round to make progress towards the launch of its Spectrum launch vehicle, planned for the second half of this year. The company’s investors include Porsche SE, a German carmaker, and HV Capital, and with this latest round, the company is now valued higher than in its previous financing round in 2021. Isar Aerospace has now raised a total of €310 million ($335.14 million). Isar Aerospace’s Spectrum launch vehicle is designed to put small and medium-sized satellites into orbit and will take off from a launch pad in Norway. The company’s Chief Financial Officer, David Kownator, said that the order books are already filled, adding that this funding round is an important milestone for the company.
Investors and Financing
Isar Aerospace has raised €155 million in a new financing round to fund the launch of its Spectrum launch vehicle. Among the investors is Porsche SE, which will also join the supervisory board, along with HV Capital. With this latest round, the company is now valued higher than in its previous financing round in 2021, and it has now raised a total of €310 million.
Spectrum Launch Vehicle
Isar Aerospace’s Spectrum launch vehicle is designed to put small and medium-sized satellites into orbit. The maiden flight is planned for the second half of 2023 from a launch pad in Norway. CFO David Kownator stated that the order books are already well filled, which suggests that the company has secured enough clients for its maiden flight.
Isar Aerospace’s financing round is a significant milestone on its path to orbit, according to CEO Daniel Metzler. The company’s success in raising funding and attracting high-profile investors like Porsche SE highlights its potential to compete with industry giants like SpaceX.
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