Credit: Isar <\/p>\n
German rocket builder Isar Aerospace has announced that it has extended its Series C funding round by more than 65 million, bringing its total funding to over 400 million. <\/p>\n
Isar was founded in 2018 and is developing its two-stage Spectrum rocket, which it is currently preparing to debut from the recently inaugurated Andya Spaceport in Norway. Once operational, the 28-metre rocket will be capable of delivering payloads of up to 1,000 kilograms to low Earth orbit. <\/p>\n
The company originally closed its Series C funding round in March 2023, securing $165 million (155 million). On 20 June, Isar announced that it had extended its Series C funding round, which now totals more than 220 million. The funding round extension received significant involvement from the NATO Innovation Fund (NIF), a venture capital fund backed by 24 NATO allies focused on addressing challenges in defence, security, and resilience. <\/p>\n
The investment by the NATO Innovation Fund in Isar Aerospace is a strong sign of confidence in our approach and underlines the fundamental role of space technologies for our economies and societies, explained Isar CEO Daniel Metzler in a statement. Even more, it shows that European governments need to promote and leverage private innovation and products to keep up globally. <\/p>\n
In addition to NIF, the funding round included contributions from G3T, 10x Group, Besant Capital, Finadvice Med HOLDINGS, LP&E, and existing investors Lakestar, Earlybird, Airbus Ventures, Bayern Kapital, and UVC Partners. <\/p>\n
According to Isar, the new funding will enable the company to continue investing in the build-up and equipment for its series production. <\/p>\n
In May, Isar signed a contract with commercial real estate developer VGP Group to build its new headquarters on a 40,000-square-metre plot in an industrial park near Munich. The company has stated that the new facility will be the worlds most modern production facility for orbital launch vehicles. Once fully operational, the facility will have the capacity to produce up to 40 Spectrum rockets per year. <\/p>\n
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Isar Aerospace Extends Series C Funding Round to 220M - European Spaceflight<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Credit: Isar German rocket builder Isar Aerospace has announced that it has extended its Series C funding round by more than 65 million, bringing its total funding to over 400 million. Isar was founded in 2018 and is developing its two-stage Spectrum rocket, which it is currently preparing to debut from the recently inaugurated Andya Spaceport in Norway. Once operational, the 28-metre rocket will be capable of delivering payloads of up to 1,000 kilograms to low Earth orbit. Continue reading