NATO Innovation Fund backs Isar Aerospace in extended Series C

The Munich-based satellite launch service company Isar Aerospace has extended its Series C funding round by €65m – it now totals €220m ($230m) – with backing from the NATO Innovation Fund.

“Access to space is critical to the technological sovereignty of Europe and the UK,” said Andrea Traversone, Managing Partner of the NATO Innovation Fund.

“Space technologies like Isar’s hold immense promise and will enable us to build a secure and prosperous future for generations to come. We will support Isar with adoption pathways across government and commercial opportunities.”

NATO Innovation Fund

The funding represents NATO Innovation Fund’s first direct investment in a satellite launch service provider. The organisation, which started in 2023 is backed by 24 NATO member countries. It is a standalone venture capital fund looking to invest €1 billion+ in “deep tech”.

The investment will enable Isar to invest in its automated production facilities, it says. It anticipates the increasing private and public sector demand for transporting small and medium-sized satellites into space.

The rocket will be the two-stage launch vehicle Spectrum, which has yet to complete testing and be launched.

Investors

Other new investors in the extension round included G3T, 10x Group, Besant Capital, Finadvice Med HOLDINGS and LP&E. Existing investors Lakestar, Earlybird, Airbus Ventures, Bayern Kapital and UVC Partners also participated.

“The investment by the NATO Innovation Fund in Isar Aerospace is a strong sign of confidence in our approach and underlines the fundamental role of space technologies for our economies and societies,” said Daniel Metzler, Co-Founder and CEO of Isar Aerospace. “Even more, it shows that European governments need to promote and leverage private innovation and products to keep up globally.”

Isar

The company describes itself as “the most capitalized independent New Space company in Europe” (its Series B funding reached $165m two years ago).

In May of this year, Isar Aerospace announced the establishment of a commercial launch vehicle production facility near Munich. It expects to be able to produce 40 Isar Spectrum launch vehicles per year in the future.

Isar? The river Isar flows through Munich, from the Alps, into the Danube.

Image: Isar Aerospace – its Spectrum rocket

See also: Norwegian Andøya Spaceport opens for Isar satellite launches