Elche, Spain-based PLD Space, an international space transportation company, has closed a €180 million Series C equity funding round led by Japanese manufacturer Mitsubishi Electric Corporation, alongside with other investors.
The Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) and its INNVIERTE fund, and the Spanish public funds management company COFIDES, through its FOCO investment fund, have co-invested in this round.
The European renowned Spanish fund Nazca Capital, via Nazca Aeroespacial y Defensa INNIVERTE I FCR Fund, closed the round.
“With over €350 million raised to date, this financing advances PLD Space’s strategic roadmap, supporting its transition to commercial operations and the scaling of its industrial and launch capabilities,” said PLD Space.
“PLD Space now consolidates its position among a select group of private companies worldwide developing complete launch systems, enabling global access to space supported by a strategic network of worldwide locations.”
Ezequiel Sánchez, PLD Space Executive President, said: “This financing reinforces our technological and industrial leadership in the launcher market, enabling us to execute the next phase of our strategic roadmap with the speed and scale required to compete globally.
“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.
“It accelerates the build‑out of the industrial and launch infrastructure required to deliver reliable access to space for an expanding pipeline of global customers.”
Tomonori Sato, Mitsubishi Electric’s Executive Officer, Group President, Defense & Space Systems said: “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.
“By combining PLD Space’s launch capabilities with Mitsubishi Electric’s strengths in the satellite business, we aim to address evolving customer requirements, including those in the global market.”