Europe’s push for space autonomy gains momentum as Spain’s PLD Space secures €180 million Series C
PLD Space, an Elche-based space transportation scale-up, has closed a €180 million Series C equity funding round to support its transition to commercial operations and the scaling of its industrial and launch capabilities.
The round was led by Japanese manufacturer Mitsubishi Electric Corporation, alongside co-investors The Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) and its INNVIERTE fund, and the Spanish public funds management company COFIDES, through its FOCO investment fund. Nazca Capital, via Nazca Aeroespacial y Defensa INNIVERTE I FCR Fund, closed the round.
Total funding now sits at €350 million with today’s announcement and follows their 2021 €25 million Series B announcement, as covered by EU-Startups.
“This financing reinforces our technological and industrial leadership in the launcher market, enabling us to execute the next phase of our strategic roadmap with the speed and scale required to compete globally,” says Ezequiel Sánchez, PLD Space’s Executive President. “MIURA 5 was designed to address a clear and growing capacity gap in the market, and this investment support strengthens our ability to transition into commercial operations. It accelerates the build – out of the industrial and launch infrastructure required to deliver reliable access to space for an expanding pipeline of global customers.”
Across Europe’s SpaceTech sector, several startups have secured funding in 2025–2026 as investment continues to flow into satellite manufacturing, space infrastructure, and related technologies.
Germany’s Reflex Aerospace raised €50 million to scale sovereign satellite platforms and manufacturing capabilities, while Toulouse-based Infinite Orbits secured €40 million to expand its in-orbit satellite servicing technology. Also in France, U-Space closed a €24 million round to accelerate satellite production and constellation deployment.
Bremen-based Marble Imaging raised €5.3 million to scale very-high-resolution Earth observation satellites ahead of a planned 2026 launch. Meanwhile Belgium’s EDGX secured €2.3 million to develop onboard AI computing systems for satellites, Italy’s Astradyne raised €2 million to advance ultralight solar panels for space applications, and Finland’s Vexlum secured €10 million to expand semiconductor laser production used in quantum and space systems.
Notably, Spain also features in this landscape, with Vigo-based Kreios Space raising €8 million to develop propulsion systems for satellites operating in very-low Earth orbit.
Together, these reported rounds amount to over €140 million, illustrating steady investment across different layers of the European space ecosystem.
Within this broader context, PLD Space’s €180 million Series C stands out due to its scale and focus on launch infrastructure. While many recent financings have targeted satellite platforms, propulsion technologies, or onboard systems, the Elche-based company is raising capital to industrialise launch capabilities and transition into commercial operations with its MIURA 5 orbital launcher.
The round reflects the higher capital requirements associated with launcher development and space transportation infrastructure, particularly as Europe seeks to strengthen sovereign access to orbit and build a more integrated space economy.
Tomonori Sato, Mitsubishi Electric’s Executive Officer, Group President, Defense & Space Systems adds: “We are pleased to collaborate with PLD Space, a company taking on the challenge of satellite launch services with a view toward the global market. By combining PLD Space’s launch capabilities with Mitsubishi Electric’s strengths in thesatellite business, we aim to address evolving customer requirements, including those in the global market.”
Founded in 2011 by Raúl Torres and Raúl Verdú, PLD Space is on a mission to transport satellites and people into space, vertically integrating the engineering, testing, manufacturing, and operations of its reusable and sustainable rockets. Its family of MIURA launchers and LINCE crewed capsule position the company as a leader in European technological sovereignty for space transportation, covering the full spectrum of space missions.
The new capital drives PLD Space’s industrial scale-up and expands its production and test capacity. With the company preparing to transition into a commercial launch provider operating regular missions to deliver satellites and payloads.
MIURA 5 is on track for its first test flight in 2026, with commercial activity expected to exceed 30 launches per year by 2030.
Today’s agreement will provide Mitsubishi Electric with small satellite launch services using its MIURA 5 rocket for Japan and across the Asian region.
The Spanish Minister of Science, Innovation and Universities, Diana Morant, stated that “the closing of this series consolidates a strategic project with global impact born in our country, reinforcing Spain’s key position within the space economy. The Spanish Government has backed PLD Space’s growth plans, because investing in space means investing in technological sovereignty, strategic autonomy and qualified employment generation.”
Key development milestones such as the successful launch of its MIURA 1 technology demonstrator on 7 October 2023 and the continued advancement of its MIURA 5 orbital launcher, validating a development strategy based on vertical integration, risk reduction and disciplined execution.
It has also made substantial progress in the civil engineering works of the launch complex at CSG in Kourou (French Guiana) and has been selected for ESA’s European Launcher Challenge (ELC) programme, valued at €169 million.
Ezequiel adds: “As demand for dependable access to space continues to rise, we are reinforcing the redundancy, test cadence and flight cadence needed to sustain continuity across multiple locations. This approach strengthens operational buffers and assurance frameworks that global operators increasingly rely on to secure their long-term access-to-orbit strategies.”
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