Spain's PLD Space raises $209 million in latest funding round

MADRID, March 4 (Reuters) - ‌Aerospace engineering firm ​PLD ​Space said on Wednesday it had closed a 180 million euro ($209 million) equity funding round, ‌which included Mitsubishi Electric, as it seeks to ⁠boost its capacity to launch rockets into space.

It comes as U.S. ‌President Donald Trump's "America First" ‌policies and the war in Ukraine have prompted Europe to ramp up its independent capabilities in a ​variety of areas, including defence and space operations.

The Spanish company said the series C round - a mechanism ⁠often used by startups to expand into new markets, develop products or prepare ​for a stock market listing - supported its transition to commercial operations and the expansion of its ​industrial and launch capabilities.

It added ‌it had raised over 350 million euros to date.

PLD Space, which in 2023 launched Europe's ⁠first fully private rocket, said it would provide Mitsubishi Electric with small satellite launch services using its Miura-5 rocket ⁠for Japan and across Asia.

The Miura-5 - named after a famous Spanish ​bull breed used in bullfights - was on track for its first test flight in 2026, with commercial activity expected to exceed 30 ‌launches per year by 2030, it added.

The firm said that the Spanish Centre for ‌the Development of Technology and Innovation and COFIDES, a ⁠Spanish partly state-owned company ‌providing financing for ​private investments, also took part in the round.

($1 = 0.8627 euros)

(Reporting by Paolo Laudani; Editing by David ‌Latona)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Explosion hits another weapons site in Bulgaria
• Iraq orders closure of Shalamcheh border crossing with Iran, two sources say
• US judge blocks Trump administration's 'loyalty' question for job applicants