Isar Aerospace CEO Daniel Metzler

Isar Aerospace, one of the new launch companies out of Europe, has secured another $165 million in financing, as it gets ready for its first launch later this year. The company announced the successful Series C funding round, March 28. 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.

The funding will enable Isar Aerospace to continue its journey towards the inaugural flight and ramp-up the cadence of its Spectrum launch vehicle. It will also enable the scaling of its production capabilities to serve the company’s order book for launches of small and medium-sized satellites as global demand rises. At the same time, the Series C will allow Isar Aerospace to keep 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 company was created in 2018. It is finalizing the build-up of its launch infrastructure at the launch site in Andøya, Norway, from where the inaugural flight of its launch vehicle Spectrum, which is planned for the second half of 2023, will take place.

“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, said in a statement.