Rocket start-up receives ten million euros

Munich-based start-up Isar Aerospace has impressed the European Commission with its launch services solution and won prize money.

As part of the 14th European Space Conference in Brussels, the European Commission is awarding the EIC Horizon Prize "Low-Cost Space Launch" to the start-up Isar Aerospace. The decisive factor for the win was the two-stage launch vehicle "Spectrum", which promises flexible and cost-efficient access to space for small and medium-sized satellites and is thus intended to advance the European quest for sovereignty in space. The technology could, for example, contribute to earth observation, which should provide insights into combating climate change.

Daniel Metzler, Josef Fleischmann and Markus Brandl founded the start-up in 2018 and the company now employs 220 people. Since its foundation, the company has raised more than 150 million euros in funding. Investors include former SpaceX Vice President Bulent Altan and Airbus Ventures.

Isar Aerospace intends to use the prize money of ten million euros to expand its research and development capacities and invest in testing and launch infrastructure. The start-up has just completed its own production facility. The next milestone is a test flight planned for the end of 2022.