Spain's PLD space raises $209 million in latest funding round

PLD Space Raises $209 Million to Expand Commercial Rocket Launches

PLD Space's Funding Round and Expansion Plans

Equity Funding and Strategic Investors

MADRID, March 4 (Reuters) - Aerospace engineering firm PLD Space said on Wednesday it had closed a 180 million euro ($209 million) equity funding round, which included Mitsubishi Electric, as it seeks to boost its capacity to launch rockets into space.

Geopolitical Context Driving European Space Initiatives

It comes as U.S. President Donald Trump's "America First" policies and the war in Ukraine have prompted Europe to ramp up its independent capabilities in a variety of areas, including defence and space operations.

Transition to Commercial Operations

The Spanish company said the series C round - a mechanism often used by startups to expand into new markets, develop products or prepare for a stock market listing - supported its transition to commercial operations and the expansion of its industrial and launch capabilities.

Total Capital Raised

It added it had raised over 350 million euros to date.

Miura-5 Rocket and Launch Services

PLD Space, which in 2023 launched Europe's first fully private rocket, said it would provide Mitsubishi Electric with small satellite launch services using its Miura-5 rocket for Japan and across Asia.

Miura-5 Rocket Details

The Miura-5 - named after a famous Spanish bull breed used in bullfights - was on track for its first test flight in 2026, with commercial activity expected to exceed 30 launches per year by 2030, it added.

Additional Participants in the Funding Round

The firm said that the Spanish Centre for the Development of Technology and Innovation and COFIDES, a Spanish partly state-owned company providing financing for private investments, also took part in the round.

($1 = 0.8627 euros)

(Reporting by Paolo Laudani; Editing by David Latona)