This article is from: srnnews.com
Sept 1 (Reuters) – Aerospace engineering firm PLD Space said on Tuesday it had extended its equity funding round by €108 million ($125 million), bringing the round’s total to €288 million.
The company’s cumulative funding stands at €488 million, as it seeks to boost its capacity to launch rockets into space.
• The new capital will support the industrialisation and commercialisation of the MIURA 5 launcher, the Spanish company said, including expanded manufacturing and testing capacity, new launch infrastructure, and preparations for commercial operations.
• It said the additional funding for its series C round — a mechanism often used by startups to expand into new markets, develop products or prepare for a stock market listing — is led by Mitsubishi Electric.
• Previously in March, PLD Space closed a €180 million equity funding round, which also included Mitsubishi Electric.
• Spain’s partly state-owned investment company COFIDES is participating again, the firm said, as well as new investors Endeavor Catalyst and the Spain Oman Private Equity Fund, managed by MCH Private Equity.
• In 2023, PLD Space launched Europe’s first fully private rocket.
($1 = 0.8626 euros)
(Reporting by Benjamín Mejías Valencia; Editing by Sharon Singleton)
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