Isar Aerospace raises $165 million
Posted: Sat, Apr 1, 2023, 11:30 AM ET (1530 GMT)
Isar Aerospace has raised $165 million as it gears up for the first flight of its Spectrum rocket. The company announced Tuesday it raised the Series C round, the largest so far this year by any space company, from a group of European investors. The funding will support work to complete the Spectrum rocket, scheduled to make its first launch in the second half of the year from Norway, and to scale up production of the vehicle. Spectrum is designed to place up to 1,000 kilograms into low Earth orbit, and Isar has several customers who have signed contracts for launches over the next few years.
Isar Aerospace has raised $165 million as it gears up for the first flight of its Spectrum rocket. The company announced Tuesday it raised the Series C round, the largest so far this year by any space company, from a group of European investors. The funding will support work to complete the Spectrum rocket, scheduled to make its first launch in the second half of the year from Norway, and to scale up production of the vehicle. Spectrum is designed to place up to 1,000 kilograms into low Earth orbit, and Isar has several customers who have signed contracts for launches over the next few years.
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