Isar Aerospace, a German space launch services provider, has raised EUR 155 million (~USD 165 million) in a Series C funding round, with investments coming in from 7-Industries Holding, Bayern Kapital, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche SE, UVC Partners, and Vsquared Ventures.

The funding is expected to be used to accelerate efforts for the maiden flight of its Spectrum launch vehicle, scaling production functions, development of new products and initiatives, and continued vertical integration efforts.

Following the investment, Porsche SE and HV Capital will join the company’s advisory board, along with 7-Industries Holding joining in an observer capacity. A portion of the funds in this round was backed by the European Union and regional programs under the European Investment Fund.

Founded in 2018, Isar Aerospace provides launch services for small and medium-sized satellites, as well as satellite constellations. The company’s flagship launch vehicle, Spectrum, is currently in its testing and qualification stage and is slated to have its maiden flight in 2H 2023. As of March 2023, the company has an employee headcount of 300+ and has raised over EUR 322 million (~USD 350 million) in funding.