Isar Aerospace Extends Series C Funding Round to Over €220M

• German rocket builder Isar Aerospace has extended its Series C funding round by over €65 million to more than €220 million.
• Founded in 2018, Isar is developing the Spectrum rocket, a two-stage, 28-meter vehicle capable of delivering payloads of up to 1,000 kilograms to low Earth orbit.
• The company plans to launch Spectrum from Norway's Andøya Spaceport.
• Isar initially closed its Series C round in March 2023 with $165 million (€155 million) and extended it on June 20, 2024, to over €220 million.
• The NATO Innovation Fund (NIF), supported by 24 NATO allies, contributed significantly to this extension, emphasizing the importance of space technologies in defense and security.
• Additional investors in the round include G3T, 10x Group, Besant Capital, Finadvice Med HOLDINGS, LP&E, and existing investors Lakestar, Earlybird, Airbus Ventures, Bayern Kapital, and UVC Partners.
• The new funds will support Isar's series production build-up and equipment.
• In May, Isar signed a contract with VGP Group to construct its new headquarters on a 40,000-square-meter plot near Munich.
• This facility is planned to be a modern production site for orbital launch vehicles, with an annual capacity of up to 40 Spectrum rockets.

Source: European Space Flight

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