IAA Small Sat - Banner

Isar Aerospace raises 75 million Euros in funding

Isar Aerospace’s new production facilities near Munich. Photo: Isar Aerospace

Paris, 14 December 2020. – The German space firm Isar Aerospace raised 75 million Euros from existing and new investors, the company said, calling this “the biggest ever round in the European space sector”.

The funding round is led by Lakestar, with substantial participations from the existing investors Earlybird and Vsquared Ventures, the firm said. Isar Aerospace has now increased its overall financing volume to more than 82 million Euros.

Isar Aerospace sees itself as “the only privately-financed European space company that has developed its launch vehicles with a payload of over 1,000 kilograms including their propulsion systems in-house from scratch”. To reduce cost and complexity drastically, the company uses “a simple design” and highly automated manufacturing processes. It places high importance on the fact that the entire value creation is carried out within the EU, it says.

Check Also

#SpaceWatchGL Opinion: Creating a Commercial Space-Based Solar Power Industry

The idea of space-based solar power has been around since the 1960s, but recently gained new momentum. While we already use solar power today on Earth, there are a few drawbacks to putting solar panels on our rooftops or fields. The most important is the intermittent nature of Earth-based solar power, as its power generation fluctuates during the day - and goes down to zero at night. In addition, to compensate for this intermittency and the low load factor (appx. 11 % yearly average), large areas of land have to be covered with solar power to produce enough energy, and storage or backup capacities are needed for the nights and winter months.