Isar Aerospace has closed a 15 million euros Series A investment round led by Earlybird and Airbus Ventures to develop low-cost launch vehicles dedicated to deploying and resupplying satellite constellations.
Existing investors Vito Ventures and UVC Partners participated in the round with Bulent Altan, who served 12 years at SpaceX including Vice President positions as well as Christian Angermayer’s Apeiron Investment Group.
Isar Aerospace was founded in 2018 by Daniel Metzler, Josef Fleischmann, and Markus Brandl, all of them having studied at the Technical University of Munich and all have backgrounds in Aerospace Engineering. The company is leveraging advanced manufacturing to enable high performance, yet low-cost, access to space, serving small and medium satellite manufacturers who drive innovation and digitization with data from space.
Over the past year, Isar Aerospace has been developing its Spectrum rocket, with the development fully on track for a first launch in late 2021, while key milestones such as propulsion system hotfire testing and agreements for launch site access have been achieved.
The Isar Aerospace launch manifest is also picking up momentum with governmental and commercial customers including a Memorandum of Understanding with Airbus Defence and Space for multiple satellite constellations launches.
Daniel Metzler, CEO of Isar Aerospace, said that space is becoming the new internet and its commercialization is in full swing. This funding round enables the company to progress substantially in the development of sustainable, environmentally-friendly launch vehicles and further deliver on the firm's vision to make space access affordable for everyone.
Airbus Ventures Financial Officer and EMEA team member, Claas Carsten Kohl, at Airbus Ventures stated the company is de Isar Aerospace to the firm's global portfolio of innovative launch systems.
Mathieu Costes, also at Airbus Ventures Partner, added the firm is pleased to entrust Daniel and his outstanding team, bringing impressive new technologies and approaches to the challenges of Low Earth Orbit, to represent this first deal in Germany for the company. Together with this investment round co-leader Earlybird, and under the continuing guidance of Bulent Altan, Airbus Ventures Partner is pleased to help draw together the ecosystems of new space excellence in both Germany and in the wider Airbus universe.
Bulent Altan noted that he has been able to watch Isar Aerospace’s progress closely and they have made impressive progress in their quest of building a cost-effective medium-sized launcher and differentiating themselves in this ever-growing launcher market by targeting the correct segment with solid engineering. As such, this investment decision was an easy one to make.
Hendrik Brandis, partner at Earlybird, commented that there is a new spirit of optimism in aerospace. The firm sees the New Space segment as a business of the future around rockets and satellites. Isar Aerospace convinced Earlybird with its professional, motivated and highly talented team. This is the company's first investment in this field are proud to support Isar Aerospace as their Series A lead investor and look forward to accompanying them on their journey as investors and supporters.