Spain-based PLD Space, a startup that provides suborbital and orbital commercial launch services for payloads and nanosatellites, raised USD 28 million on 27th December 2021.
Investors: The investment round was led by Arcano Partners, Aciturri and the Centre for the Development of Industrial Technology (CDTI). In addition, ArcanoBlueBull from Arcano’s specialized Tech M&A division participated as well.
Purpose of funding: The startup will use the funding to advance its strategic plan. An expansion of the human team and the company’s productivity is crucial to this goal. The firm expects to double its size within three years and hire 200 new employees by 2022.
About PLD Space
Founded in 2011 by Raúl Torres and Raúl Verdú, PLD Space is located in Elche, Spain. PLD Space is a startup that provides suborbital and orbital commercial launch services for payloads and nanosatellites. The startup offers low-cost, high-reliability access to space using advanced sustainable technologies. The startup has successfully developed two satellites into space with the MIURA 1 suborbital rocket and the MIURA 5 orbital rocket, making Spain one of the few countries in the world with the capability to send small satellites into space. Also, in 2024, PLD Space plans to launch a real space transport mission with MIURA 5 after launching its prototype MIURA 1 in the second half of 2022.
What the founder has to say
“We are very grateful to all the investors in this round, both the new shareholders and the current partners. With this level of follow-on, PLD Space financial viability is guaranteed to undertake their next milestones, such as the first commercial launch of MIURA 5, the internalization of a good part of the rocket production processes and, of course, the demonstration flights of MIURA 1,” said Raúl Verdú, COO and Co-founder at PLD Space.
What the investors have to say
“This new financing round allows us to consolidate our position as an industrial reference partner of the PLD Space project, one of the main lines in our positioning strategy in the Aerospace&Defence segment,” said Álvaro Fernández Baragaño, General Director at Aciturri.
“After our incorporation in 2018, we renewed our support for the development of PLD Space, a project that will involve the development of different technologies nationwide. We are completely confident that the PLD Space team has the necessary capabilities to make this project a major player in this market globally.”
“CDTI’s support for PLD Space initiative is part of the Spanish Administration’s firm commitment to the so-called new space, which is transforming space activity and presents interesting opportunities in a high-tech and qualified sector. Through the INNVIERTE program, since 2019, CDTI has supported the capitalization of technology companies in co-investment with other private investors. In this manner, these companies are capable of overcoming the first stages at the market, which carry a high technical risk,” said Javier Ponce Martínez, General Director at CDTI.
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