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Rocket Factory Augsburg (RFA) is a German company and a competitor of the Spanish company PLD Space.
Mitsubishi Electric funded the PLD Space launcher in part to secure access to orbit.
Mitsubishi Electric was the lead investor in PLD Space’s €180 million Series C funding round.
PLD Space is targeting 'semi-serial' production rates of Miura 5, aiming to produce four rockets this year and six rockets next year.
PLD Space is developing an upgraded launch vehicle called Miura Next intended to fly a test of a larger-capacity rocket by 2028 to meet milestones in the European Launcher Challenge.
PLD Space plans to rapidly grow its launch cadence with the new funding.
Mitsubishi Electric’s support for PLD Space includes optional technical support and the ability to secure access to a new supply of launch capabilities to support satellite deployments across Japan and Asia.
PLD Space expects to launch its first Miura 5 demonstration flight this year and plans a second demonstration flight either this year or by Q1 2027.
PLD Space aims to conduct more than 30 launches per year by the end of the decade.
PLD Space plans to move to a larger production facility in 2028 to increase Miura 5 output into the double digits.
PLD Space raised a €180 million Series C round, bringing the company’s total funding to over €350 million.
PLD Space secured €180 million in Series C funding led by Mitsubishi Electric to scale production of its MIURA 5 orbital rocket.
Mitsubishi Electric committed to offering launches at market prices, which provides validation for PLD Space’s business plan without requiring strategic concessions.
The two Miura 5 demonstration flights are intended to help PLD Space gain access to launch insurance to support commercial flights beginning in 2027.
PLD Space expects development of its commercial launch site at the Guiana Space Center in Kourou, French Guiana to wrap up by July.
PLD Space expects the Miura 5 rocket to perform its first test flight this year.
PLD Space has sold several launches aboard MIURA 5, including a dedicated flight for Spanish satellite operator Sateliot.
PLD Space’s €180 million Series C is smaller than Germany’s Isar Aerospace’s €220 million Series C, which is the largest such round by a European launch startup to date.
PLD Space projects commercial launch activity to exceed 30 launches per year by 2030.
PLD Space raised $209 million in its Series C equity round.