Rocket start-up receives ten million euros

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

During the 14th European Space Conference in Brussels, the European Commission awarded the EIC Horizon Prize "Low-Cost Space Launch" to the start-up Isar Aerospace. The decisive factor for the win was the two-stage "Spectrum" launch vehicle, which promises flexible and cost-effective access to space for small and medium-sized satellites, thus advancing the European quest for sovereignty in space. The technology could contribute to Earth observation, for example, which is expected to provide insights to combat climate change.

Daniel Metzler, Josef Fleischmann and Markus Brandl founded the startup in 2018, and the company now employs 220 people. Since its founding, the company has raised more than 150 million euros in funding. Among the investors are former SpaceX Vice President Bulent Altan and Airbus Ventures.

Isar Aerospace intends to use the ten million euros in prize money to drive forward the expansion of its research and development capacities and invest in its test 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.