Isar Aerospace Technologies Inc., a German rocket company, has raised $165 million as part of its latest financing round. The funding will help the company to launch its first commercial satellites with its Isar One rocket by 2021 and bring more sovereign launch capabilities to Europe.
The announcement comes after Isar raised $22 million in July 2020, making it one of the most well-funded European launch systems in the market. The new funding was co-led by London-based Lysander Capital and Munich based Marathon Venture Capital, with additional investments from Propel Capital, A Capital, and various private investors. The total amount raised stands at $187 million.
In addition to launching commercial satellites, Isar is working closely with the European Space Agency (ESA) to make its technology available for sovereign applications. These would include launching dedicated national payloads such as state-owned satellites, microsatellites, and other kinds of experiments.
The Isar One rocket is a hybrid vehicle, the first of its kind in Europe, and the result of extensive research and development. The rocket has a two-stage design, with two different propulsion systems that can be launched within the same platform. It has already been successfully tested in March 2020, reaching an altitude of 103 kilometers above the Earth’s surface.
Isar is planning to use the new funding to further develop its technology, expand its launch site capabilities, and ultimately position itself at the forefront of the European space industry. With the new investment, the German rocket company intends to further solidify its foothold in the European market.
This round of funding is also significant as it comes amidst a growing demand for space launch services in Europe. Currently, commercial opportunities are limited to two well-known launch systems, the Ariane 6, developed by the European company ArianeGroup, and the Falcon 9 rocket created by SpaceX.
Through its involvement with the ESA, Isar is hoping to bring new and improved launcher capabilities to Europe, driving growth in the space industry and the development of sovereign applications. It is clear that with its latest financing round, Isar has made a significant step towards achieving its mission.