Spanish startup launch company PLD Space has successfully raised €180 million (approximately $209 million) in its latest funding round, aimed at advancing the production of its next rocket, the Miura 5. Established in 2011, PLD Space holds the distinction of being the first private rocket company in Spain, having launched its initial rocket, the Miura 1, in 2023.
The company is currently developing a series of rockets, including the Miura 5, which is designed to land in the ocean for recovery and reuse. Additionally, the Miura Next is a medium-lift rocket that features propulsive landing capabilities, with plans for both heavy and super-heavy variants equipped with three and five boosters, respectively.
Funding and Future Plans
“Miura 5 was designed to address a clear and growing capacity gap in the market, and this investment support strengthens our ability to transition into commercial operations,” stated Ezequiel Sánchez, Executive President of PLD Space. He emphasized that the funding will accelerate the development of the necessary industrial and launch infrastructure to provide reliable access to space for a growing number of global customers.
Initially, PLD Space had targeted the first flight of the Miura 5 rocket for the first quarter of 2026. However, with the announcement of this Series C fundraising, the company has revised its timeline, indicating that the inaugural flight will now occur sometime in 2026. Looking ahead, PLD Space aims to conduct over 30 launches per year by 2030.
Strategic Partnerships and Investments
The latest funding round was significantly bolstered by an investment of €50 million (around $58 million) from Japanese manufacturer Mitsubishi Electric Corporation. “We are pleased to collaborate with PLD Space, a company taking on the challenge of satellite launch services with a view toward the global market,” said Tomonori Sato, Executive Officer at Mitsubishi Electric. This partnership will provide Mitsubishi Electric with priority access to launch services using the Miura 5 rocket, enhancing the feasibility of establishing a satellite constellation.
To date, PLD Space has raised over €350 million (approximately $407 million) in total funding. Other contributors to this funding round include the Spanish Ministry of Science, Innovation and Universities, COFIDES (Compañía Española de Financiación del Desarrollo), and Nazca Capital.
European Launcher Challenge Participation
PLD Space was selected as one of five companies to participate in the European Launcher Challenge</, with financial backing from the European Space Agency (ESA). The objective is for these companies to achieve a successful orbital launch by 2027, with ESA committing to support operational launches until at least 2030.
As the competition progresses, PLD Space continues to strengthen its position in the rapidly evolving space launch market, responding to increasing global demand for reliable access to orbit.
This article was produced by NeonPulse.today using human and AI-assisted editorial processes, based on publicly available information. Content may be edited for clarity and style.
