Isar Aerospace factory assembly area. Photo: Isar Aerospace

German launcher in development Isar Aerospace raised a more than 65 million euro ($69 million) extension to its Series C funding round, with backing from the NATO Innovation Fund. 

This follows after Isar closed a $165 million Series C round in March 2023. Isar Aerospace has now raised more than 400 million euros ($428 million). The company is developing the Spectrum two-stage orbital launch vehicle designed for small to medium-sized satellites.  

Isar said this funding will allow the company to continue investing in the build-up and equipment for series production of the Spectrum rocket. 

The NATO Innovation Fund is a standalone venture capital fund backed by 24 NATO Allies that focuses funding on deep tech companies focused on defense, security, and resilience. Notably, this investment is the NATO Innovation Fund’s first direct investment in a satellite launch service provider. 

“Access to space is critical to the technological sovereignty of Europe and the U.K. Space technologies like Isar’s hold immense promise and will enable us to build a secure and prosperous future for generations to come. We will support Isar with adoption pathways across government and commercial opportunities,” Andrea Traversone, managing partner of the NATO Innovation Fund, commented in a press release. 

Other investors included the European family office G3T as well as 10x Group, Besant Capital, Finadvice Med HOLDINGS and LP&E. Existing investors Lakestar, Earlybird, Airbus Ventures, Bayern Kapital and UVC Partners also participated in the extension round.