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German launch startup Isar Aerospace raised 15,000,000 EUR in 2019.
Isar Aerospace received a 500,000-euro award from the German space agency DLR as part of a competition to foster small launch vehicles.
Isar Aerospace, HyImpulse Technologies, and Rocket Factory Augsburg will use the DLR funds to further develop their launch vehicles ahead of a follow-on competition in spring 2021.
Isar Aerospace was formed in 2018 or later and aimed for a first Spectrum launch anticipated in late 2021.
Isar Aerospace targets launch prices below 15,000 EUR per kilogram with an eventual goal of reaching below $10,000 per kilogram.
Isar Aerospace has selected a launch site in mainland Europe and is in contact with several other launch sites to support missions needing different inclinations.
Isar Aerospace raised $17,000,000 in a Series A round led by Airbus Ventures and Earlybird Venture Capital.
European tech investors Vito Ventures, UVC Partners, and Apeiron Investment Group participated in Isar Aerospace’s seed round and $17,000,000 Series A.
Isar Aerospace designed Spectrum so a mission can be completed even if one of its first-stage engines fails in flight.
Isar Aerospace’s $17,000,000 Series A is intended to fund the 30-person company through to a full-duration engine hot-fire and to enable the company to double in size in the coming months.
Munich-based Isar Aerospace is developing Spectrum, a two-stage, liquid-fueled rocket designed to launch 1,000 kg to low Earth orbit.