Mynaric goes into series production

The listed start-up Mynaric inaugurated its series production facility on Thursday: 2,000 devices per year are to be produced near Munich, and 200 jobs created. There are also rumors of an IPO in the US.

Munich-based start-up Mynaric celebrated the start of its series production on Thursday. Mynaric started up its production facility near Munich in Oberpfaffenhofen. The goal is to make 2,000 devices per year and create 200 jobs. "I am incredibly proud of what the entire Mynaric team has accomplished to get us to this milestone. Where our first volume production is today, there was only gravel nine months ago. It is precisely this speed that is at the core of the Mynaric identity," says COO Tino Schuldt.

The Munich-based company is a 2009 spin-off of the German Aerospace Center and is dedicated to data transmission via laser instead of radio. Mynaric sees its technology filling a gap. The amount of data that needs to be transmitted is growing all the time, and radio transmission is reaching its limits. With the new system, the devices are to enter industrial production. The start-up's customers are mainly located in the USA.

In addition to the start of production, according to insiders, there is also the goal of the start-up to go public on the American stock exchange Nasdaq this year. In Germany, Mynaric has already been listed on the stock exchange since 2017, and the launch in America is expected to take place in early autumn, according to Reuters. Since 2019, Bulent Altan has been the company's CEO, who was one of the first employees at SpaceX and involved in Starlink's Assurance satellite mission.