Munich-based Isar Aerospace aims to launch its Spectrum rocket to orbit later this year.
The Munich-based firm aims to perform its first launch in the second half of the year, and the new investment is part of a wider push aimed at preventing the European space industry from falling behind.The investors in the new funding round for Isar Aerospace include Porsche SE, which will join the supervisory board alongside HV Capital, according to a statement from the company.
Isar Aerospace hopes to perform the maiden flight of its Spectrum launch vehicle later this year. Spectrum was designed to put small and medium-sized satellites into orbit from the Norwegian Andøya Space launch facility – the company has signed a 20-year exclusivity dealof the Aquila engine that will power its Spectrum launch vehicle.
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