Porsche acquires stake in Isar Aerospace

The carmaker acquires a single-digit share in the Bavarian rocket manufacturer. In total, the start-up receives 180 million US dollars in the latest financing round.

Isar Aerospace has received another 75 million US dollars in the latest financing round. This brings the investment volume of the round to a total of 180 million US dollars. Investors include Munich-based HV Capital, Zurich-based VC Lakestar, Munich-based VC Earlybird and Airbus Ventures, the investment arm of the European aircraft manufacturer. The group of investors has now been joined by Porsche. The Stuttgart-based carmaker is acquiring shares in Isar Aerospace in a low single-digit percentage range. "As an investor with a focus on mobility and industrial technologies, we are convinced that cost-effective and flexible access to space will provide innovations in many industrial sectors," says Lutz Meschke, responsible for Porsche's investment management on the motivation. "With Isar Aerospace, we are investing in a company that has the best prerequisites for establishing itself as a leading European manufacturer of launch vehicles."

Isar Aerospace plans to launch the first "Spectrum" rocket into space as early as next year. This is said to be particularly cost-effective for satellite transport compared to competitors. The start-up from Ottobrunn wants to cover the gap between the existing rocket infrastructure and the increasing demand.