Germany-based satellite launching technology developer Isar Aerospace has added $75m from investors including automotive manufacturer Porsche to a series B round now totalling almost $166m.
Porsche co-led the second tranche with HV Capital and Lombard Odier while Earlybird Venture Capital also participated.
Isar is developing a two-stage launch vehicle called Spectrum which is designed to help build satellite constellations. It has planned a first test flight for the second half of 2022 and has launch contracts in place with aerospace manufacturer Airbus and the German government.
Airbus subsidiary Airbus Ventures had joined Earlybird, Lakestar, Vsquared Ventures HV Capital, Unternehmertum Venture Capital (UVC) Partners, Apeiron Investment Group and various private investors in the round’s $90.8m first close in December 2020.
UVC Partners, Vito Ventures, Bulent Altan and David Giger had provided a multimillion-dollar amount for Isar in 2018, before it added $16.5m in series A funding from Airbus Ventures, Earlybird, Apeiron, UVC Partners, Vito Ventures and Altan in late 2019.
