Spanish space startup PLD Space has closed a Series C funding round amounting to 180 million euros, marking one of the largest private investments in the European space sector. The funds, in which Japanese Mitsubishi Electric played a key role, will be allocated for the industrialization and commercialization of the Miura 5 small satellite launch vehicle. The company's goal is to conduct its first commercial flight in 2026 and become a European alternative to giants like the American SpaceX. The investment underscores Europe's growing ambitions in building independent, commercial access to orbit and strategic technological partnerships between Europe and Asia.

Record Investment in Europe

PLD Space secured 180 million euros in a Series C round, considered one of the largest transactions in the history of Europe's private space sector. The funds will allow the company to transition from the technological development phase to full industrialization and commercial operations.

Mitsubishi Electric Leads Consortium

The investor group was led by the Japanese technology giant Mitsubishi Electric, giving the transaction a strategic, international dimension. The collaboration opens up opportunities for PLD Space for technological partnership and access to Asian markets.

Goal: First Miura 5 Flight in 2026

The main goal of the funding is to finalize the development and begin operations of the Miura 5 rocket, capable of launching payloads of up to 900 kg into low Earth orbit. The company plans its first commercial launch for 2026, following successful tests of the smaller sounding rocket Miura 1.

Strengthening European Autonomy

The investment aligns with a broader trend of Europe seeking to become independent in space access from foreign suppliers. PLD Space aspires to become a key commercial player capable of competing with American companies.

Spanish space company PLD Space has achieved a significant breakthrough by closing a funding round of 180 million euros. The funds, secured as part of the so-called Series C, will be used primarily for the industrialization and commercialization of its flagship small satellite launch vehicle, the Miura 5. The investment is considered one of the largest in the history of Europe's private space sector and represents a milestone for the company founded in 2011. Its goal is to transition its operations from the research and development phase to a fully operational payload launch service provider, with its first commercial launch planned for 2026. The investment consortium was led by Japanese Mitsubishi Electric, a global leader in advanced electronics and space systems. The participation of the Japanese conglomerate holds strategic significance, extending beyond mere financing. It opens up prospects for PLD Space for close technological collaboration and potential access to Asian markets. The co-lead investor in the round was also the Spanish company Aciturri, a key supplier of components for the aerospace sector, highlighting local industry involvement. Existing venture capital investors also participated in the transaction. Europe has long sought to increase its autonomy in space access, traditionally relying on joint projects carried out by the European Space Agency (ESA) and rockets like Ariane. In the last decade, there has been rapid growth in the private space sector, initially dominated by American companies such as Elon Musk's SpaceX or Rocket Lab. PLD Space's success fits into a broader European trend of building competitive, commercial entities capable of competing in the global small satellite market, which is growing dynamically. The funds from the new round will be allocated to finalizing development, scaling up production, and building the necessary operational infrastructure for the Miura 5 rocket.

Mentioned People

  • Raúl Verdú — Co-founder of the Spanish space company PLD Space.
  • Raúl Torres — Co-founder of the Spanish space company PLD Space.