Home > News > featured news > Space company Isar Aerospace secures Series C Funding Round of USD 165m to meet global demand for access to space

AEROSPACE

Space company Isar Aerospace secures Series C Funding Round of USD 165m to meet global demand for access to space

PRnewswire | March 29, 2023 | Read time : 02:35 min

Satellite launch service company Isar Aerospace today announced the closing of its USD 165m (EUR 155m) Series C round. To date in 2023, this is the largest SpaceTech financing round globally and one of the largest European DeepTech fundraises. 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. Investors Porsche SE and HV Capital will join Isar Aerospace's Advisory Board together with 7-Industries Holding joining in an observer capacity. Part of the funds provided by the private investors is backed by the European Union and regional programs managed by the European Investment Fund, such as InvestEU and the German Future Fund.

The funding enables 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 proven production capabilities to serve the company's strong order book for launches of small and medium-sized satellites as global demand rises. At the same time, the Series C will allow the company 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.

Daniel Metzler, Co-Founder and CEO of Isar Aerospace explains: "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."

David Kownator, Chief Financial Officer of Isar Aerospace, adds: "We are thrilled to have concluded this round of financing in a difficult global market environment, building on strong investor demand and the company's steady progress, at an increased valuation compared to our Series B in July 2021."

The record round underlines Isar Aerospace's leading position in the commercial space industry. At the same time, it highlights the company's role in strengthening Europe's capabilities for consistent, flexible, and cost-efficient access to space for commercial and institutional customers worldwide. With a total financing amount raised of more than USD 330m (EUR 310m), Isar Aerospace is the most capitalized independent New Space company in the European Union.

Bulent Altan, Chairman of the Advisory Board and seed investor in Isar Aerospace, says: "The undeniably most common building block of any space application is reliable and affordable access to orbit. Isar Aerospace is a catalyst for the tremendous growth of the sector. With a crisp and fast execution, focus on quality, and establishing capabilities for future volume production, Isar Aerospace is emerging as a strong leader in the space economy. I am extremely pleased to have been a part of the journey from day one and look forward to the upcoming first launches."

Full vertical integration, solid customer pipeline

Since its creation in 2018, Isar Aerospace has established itself as a technological leader, having developed proprietary know-how through full vertical integration, owning design, production, and testing operations entirely in-house. Its manufacturing facility, established in Munich, provides maximum reliability, cost-efficiency, and flexibility. The high degree of automation allows for future scalability to serve increasing market demand. Isar Aerospace has signed firm contracts with customers globally, including major commercial players, New Space companies, and government institutions. The company's flight manifest is already fully booked for its first years of operations, demonstrating its strong positioning as a provider of cost-efficient access to specific orbits for the deployment of constellations and targeted use cases.

Targeting the inaugural flight in the second half of 2023

Isar Aerospace started the production of the maiden flight vehicle while entering the qualification stages for its vehicle systems. The entirely in-house developed and manufactured Aquila engine is undergoing engine testing and qualification. At the same time, the company 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.

Strengthening Europe's capabilities to access orbit

Access to space is key to unlocking the innovation potential for technologies urgently needed to address climate change, ensure secure and efficient connectivity, and improve critical infrastructure globally. With 2022 serving as a wake-up call for Europe's geopolitical role, decision-makers have prioritized the advancement of European sovereign access to space, as the continent aims to ensure its global competitiveness. Isar Aerospace will significantly contribute to materializing independent capabilities for accessing space. By developing and building launch vehicles that will transport small and medium-sized satellites and constellations into Earth's orbit, companies, institutions, and governments globally will be empowered to improve their capabilities and services in Earth observation, telecommunications, agriculture, disaster management, transportation, environmental monitoring and protection, scientific research, and defense applications.

About Isar Aerospace

Isar Aerospace, based in Ottobrunn/Munich, develops and builds launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth's orbit. The company was founded in 2018 as a spin-off of Technical University Munich. Since then, it has grown to more than 300 employees from more than 40 nations with many years of hands-on rocket know-how and experience within other high-tech industries.

Spotlight

How Many Pilots Are Needed For A Transatlantic Flight?

While airline passengers frequently interact with members of the cabin crew during the course of flight, what they generally are unaware of how many are personnel are piloting the aircraft. While most understand that there are two main cockpit seats these days, long-haul transatlantic flights require major planning by airlines, and this also includes the number of pilots needed for such flights. Let’s look at the required numbers in today’s video.

More featured news

Spotlight

How Many Pilots Are Needed For A Transatlantic Flight?

Related News

DEFENSE AND SPACE

COCESNA Signs Contract with Aireon for Space-based ADS-B Data

Aireon LLC | March 13, 2023

Corporación Centroamericana de Servicios de Navegación Aérea (COCESNA), a Central American air navigation service provider (ANSP), has recently signed a contract for three years with Aireon for its top space-based Automatic Dependent Surveillance-Broadcast (ADS-B) data, validating the region's exceptional operational and safety advantages. For COCESNA, which has been evaluating Aireon's data for the last 18 months, the Aireon data will allow the regional ANSP to gain complete situational awareness of its air traffic over the Pacific Oceanic airspace in real time. In addition, it aims to utilize the data to offer more efficient routes to airspace operators, including reduced separation minima. COCESNA's region incorporates over 2.6 million square kilometers of terrestrial airspace and broad oceanic areas in the Caribbean Sea and Pacific Ocean, spanning the Central American flight information region (FIR). It also provides air traffic surveillance services to Belize, El Salvador, Costa Rica, Honduras, Guatemala, and Nicaragua. COCESNA is the major air traffic control provider at the crossroads of the Caribbean, South, North, and Central America due to its central location in the Americas. Vice President of Customer Affairs at Aireon, Peter Cabooter, said,"As the aviation community emerges from the COVID-19 pandemic, we at Aireon are seeing more and more ANSPs look to data solutions to safely and efficiently manage the next phase of air traffic growth." He added, "We are looking forward to continuing the great relationship with COCESNA to support their operational and safety goals." (Source – Cision PR Newswire) About Aireon LLC Founded in 2012 and headquartered in McLean, Virginia, Aireon, an air traffic management provider, has deployed a worldwide space-based air traffic surveillance system for aircraft equipped with Automatic Dependent Surveillance-Broadcast (ADS-B). As a result, the company is leveraging ground-based, next-generation aviation surveillance technologies and, for the first time, expanding its global reach to significantly improve safety and efficiency, reduce emissions, and provide cost savings to all stakeholders. Space-based ADS-B surveillance extends to oceanic, polar, and remote regions, complementing ground-based systems limited to terrestrial airspace.

AIR TRANSPORT

Stratolaunch Completes Third Captive Carry Flight with Talon-A Vehicle

PRnewswire | April 03, 2023

Stratolaunch LLC announces it has successfully completed a third captive carry flight of the Talon-A separation test vehicle, TA-0. The flight was the tenth for the company's launch platform Roc and marks the beginning of routine flight operations in Vandenberg Space Force Base's Western Range off California's central coast. The flight, which lasted a total of five hours, performed risk reduction by practicing a variety of separation profiles and confirming telemetry between Roc and Talon-A vehicles and Vandenberg Space Force Base's communication assets, assuring that back-up telemetry data collection will occur during future flight tests. Pending results of post-flight data analysis, the team will progress toward a separation test in the coming weeks, enabling the company to perform its first hypersonic flight in 2023. "This third captive carry accomplished data collection and verification of hardware that further builds confidence and reduces risks for our upcoming release test of our separation vehicle, known as TA-0. The team also practiced the release sequence, enabling us to collect important data regarding how the Stratolaunch Talon Launch System performs during this dynamic phase of flight," said Dr. Zachary Krevor, Chief Executive Officer for Stratolaunch. "We thank the Western Range, Vandenberg Space Force Base for their outstanding support of our mission. Their partnership is a wonderful example of what can be achieved when private and government organizations come together to accomplish a mutually beneficial goal. We look forward to working together during our future operations pursuing hypersonic flight," he said. About Stratolaunch Stratolaunch's mission is to advance high-speed technology through innovative design, manufacturing, and operation of world-class aerospace vehicles.Stratolaunch designs, manufactures, and launches aerospace vehicles and technologies to fulfill several important national needs, including the need for reliable, routine access to space and the need to significantly advance the nation’s ability to design and operate hypersonic vehicles.

COMMERCIAL AVIATION

Navitaire Completes Move to the Cloud

Businesswire | May 03, 2023

Navitaire, an Amadeus company, has successfully migrated its 60+ airline customers to Microsoft Azure and is on track to achieve an industry milestone to process more than 850 million reservations in the cloud in 2023. “We are thrilled to reach this incredible milestone together with our airline customers in just over a year,” said David P. Evans, Navitaire CEO. “This is the culmination of our strategic planning, hard work and ongoing commitment to using advanced technology to reinforce our position as a true leader.” This concludes the first phase of Navitaire’s cloud-first initiatives, with Navitaire’s flagship New Skies® digital-first airline reservations and retailing platform, in addition to its portfolio of digital, data streaming and operational telemetry solutions. Navitaire has already begun work to further leverage the power, scalability and flexibility of cloud technologies, including modernizing its operational platform and building cloud-native applications. The migration allows Navitaire to deliver on its mission to leverage the cloud to enable greater innovation, scalability, security and performance. The move to the cloud lets Navitaire execute its key cloud strategies to improve operational capabilities with enhanced abilities to dynamically scale, automate resiliency and unlock richer operational insights through on-demand information and optimization. Navitaire is one of the first technology providers to operate its entire airline platform solution in the cloud, offering its carriers dynamic scalability to keep pace with growth and access to leading-edge technology that supports modern offer and order retailing concepts. Its extensive API suite and proven retailing and distribution capabilities gives airlines flexible options to offer bundled or a la carte ancillary services throughout a customer’s journey. Navitaire's dynamic distribution, including its cloud-based NDC-enabled and digital channels, enables connections with industry and business partners, ranging from online travel agencies and airlines to travel commerce companies, all using leading-edge technology. About Navitaire Navitaire ,an Amadeus company, delivers industry-leading technology services supporting growth, profitability, and innovation to more than 65 airlines and rail companies worldwide, carrying a total of 686 million annual passengers in 2022, including many of the world’s most successful low-cost and hybrid airlines. Navitaire offers a full suite of proven solutions focused on revenue generation and streamlining costs in reservations, ancillary sales, loyalty, revenue accounting, and business intelligence. Navitaire has offices in North America, Europe, Asia, and Australia, and is a wholly owned subsidiary of the Amadeus Group.