TU Munich spinout Isar Aerospace has added $75m to its series B round, bringing the round’s total to nearly $166m and its overall financing to more than $183m.

Isar Aerospace, a Germany-based satellite technology launch services spinout of TU Munich, has secured an additional $75m in series B funding from investors including UVC Partners, the venture capital affiliate of TU Munich’s tech transfer arm UnternehmerTUM. Carmaker Porsche, banking group Lombard Odier and venture capital firm HV Capital co-led the extension, while Earlybird Venture Capital, Lakestar, Vsquared Ventures and Apeiron Investment Group also took part. UVC Partners already backed the $90.8m initial series B tranche in December 2020, which was co-led by Lakestar, Earlybird and Vsquared Ventures. The first close also attracted Airbus Ventures, a corporate venturing subsidiary of aerospace and defence company Airbus, as well as HV Capital, Apeiron and private investors Bulent Altan, Paul Achleitner and Ann-Kristin Achleitner. Founded in 2018, Isar is developing a two-stage launch vehicle to deploy satellites into low-earth orbit. The additional series B capital will allow Isar to build out its manufacturing and launch infrastructure required for long-term growth. The spinout also hopes to increase the reusability of parts and increase its headcount from over 180 staff to more than 200 employees by the end of this year. Isar has already unlocked one challenge as a European space startup: raising money. The company claims the total funding it has raised is the most by any space startup in Europe, after years of complaints by entrepreneurs that European investors were less willing to invest in the industry than their American counterparts. UVC backed a $17m series A round in 2019 that was co-led by Airbus Ventures and Earlybird. Apeiron, Vito Ventures and Bulent Altan also invested in the series A round, which followed a multi-million-dollar seed round in 2018 backed by UVC, Vito, Altan and David Giger. – Feature image courtesy of Isar Aerospace

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).