Isar Aerospace plans to launch rockets next year

The German start-up Isar Aerospace has now raised 75 million euros from investors for its ambitious plans. This makes it one of the few deep-tech start-ups to successfully finance itself in this country.

German rocket start-up Isar Aerospace has closed another major round of financing. As reported by Handelsblatt

, the Munich-based company was able to raise 75 million euros from investors, some of whom are prominent. According to the newspaper, these include Klaus Hommels - previously involved with Spotify, Skype and Airbnb - Airbus Ventures, economics professor Ann-Kristin Achleitner and her husband, Deutsche Bank supervisory board chairman Paul Achleitner.

Normally, European and German investors are particularly reluctant to invest in deep-tech start-ups, i.e. those that require time-consuming and capital-intensive development. In this respect, it is a surprise that the current financing round is mainly supported by backers from Isar Aerospace's home market.

With the money raised, the company intends to send one of its launch vehicles with a satellite into space for the first time before the end of next year. Satellite transports are a growth market, as many will be needed in the coming years to safely enable autonomous driving, for example.

Should Isar Aerospace's rocket, called "Spectrum," actually launch next year, it would be the only rocket besides the pan-European Ariane system to be built with German participation.