PLD Space Secures $125 Million in Equity, Expands MIURA 5 Launcher Plans
PLD Space Funding and Expansion Overview
Sept 1 (Reuters) - Aerospace engineering firm PLD Space said on Tuesday it had extended its equity funding round by €108 million ($125 million), bringing the round's total to €288 million.
The company's cumulative funding stands at €488 million, as it seeks to boost its capacity to launch rockets into space.
Details of the Equity Funding Round
Purpose of the New Capital
• The new capital will support the industrialisation and commercialisation of the MIURA 5 launcher, the Spanish company said, including expanded manufacturing and testing capacity, new launch infrastructure, and preparations for commercial operations.
Series C Round and Lead Investors
• It said the additional funding for its series C round — a mechanism often used by startups to expand into new markets, develop products or prepare for a stock market listing — is led by Mitsubishi Electric.
Previous Funding and Investor Participation
Earlier Equity Funding
• Previously in March, PLD Space closed a €180 million equity funding round, which also included Mitsubishi Electric.
Current and New Investors
• Spain's partly state-owned investment company COFIDES is participating again, the firm said, as well as new investors Endeavor Catalyst and the Spain Oman Private Equity Fund, managed by MCH Private Equity.
Milestones and Achievements
• In 2023, PLD Space launched Europe's first fully private rocket.
Financial Information
($1 = 0.8626 euros)
(Reporting by Benjamín Mejías Valencia; Editing by Sharon Singleton)
