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After securing its Series C funding round, PLD Space has now secured approximately €350 million in total funding.
The €169 million committed by the Spanish government is provided through launch service contracts and programme milestones to subsidise early flights and support PLD Space’s ability to secure additional launch contracts.
The Dual Vocational Training programs for PLD Space will follow the model applied with the Sagunto battery megafactory.
The first phase of the PLD Space factory project includes building a hall of between 60,000 and 70,000 square meters to support serial production of the Miura 5 rocket and development of the Miura Next launcher family.
The development of the Miura Next family follows a recent award of funds from the European Space Agency to PLD Space.
The memorandum of understanding was signed at PLD Space’s headquarters in the Parque Empresarial de Elche.
The approximately €350 million total secured by PLD Space does not include €169 million committed by the Spanish government as part of the European Space Agency’s European Launcher Challenge.
The PLD Space rocket factory project in Porta d'Elx is planned to double PLD Space’s current workforce to nearly 1,000 employees by mid-2028.
Nazca Capital coinvested in PLD Space’s Series C through its Nazca Aeroespacial y Defensa Innvierte I FCR fund.
Banco Santander acted as financial advisor to PLD Space in the Series C transaction.
The Spanish Ministry of Science, Innovation and Universities coinvested in PLD Space’s Series C through the Centre for the Development of Industrial Technology (CDTI) and its Innvierte fund.
PLD Space has sold several launches aboard MIURA 5, including a dedicated flight for Spanish satellite operator Sateliot.
Mitsubishi Electric Corp. led a $209 million Series C equity round in Spanish startup PLD Space.
Mitsubishi Electric Corporation invested €50 million as the lead investor in PLD Space’s Series C and has committed to serve as a strategic launch customer for MIURA 5.
Pablo Ruz considers PLD Space one of the main drivers of talent and the economy in Elche and views the agreement as ensuring the company’s growth remains in the city.
Through its investment in PLD Space Mitsubishi Electric will gain priority access to launch services using the MIURA 5 rocket.
Deloitte acted as legal advisor to PLD Space in the Series C transaction.
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.
The Elche city council provided a parcel of almost 500,000 square meters in the future Porta d'Elx industrial estate, which PLD Space acquired for 2.3 million euros.
PLD Space closed a €180 million Series C funding round led by Mitsubishi Electric Corporation, which has committed to becoming a strategic customer.