The global demand for small-satellite launches exceeds available supply, leading to capacity shortages for constellation operators and commercial payloads. PLD Space meets this need with MIURA 5, a reusable two-stage rocket that can carry up to 900kg to low Earth orbit from launch sites like Kourou, French Guiana. It offers dedicated missions at a lower cost than rideshare options.
The round was led by Mitsubishi Electric Corporation (which is also coming in as a strategic launch customer for Japan and Asia), with support from CDTI INNVIERTE, COFIDES FOCO, and Nazca Capital.
This brings the total funding to more than €350 million, supporting industrial growth and test flights planned for 2026, with a goal of over 30 commercial launches each year by 2030.
Building a truly European, sovereign launch capability
PLD Space was founded in 2011 by Raúl Torres and Raúl Verdú in Elche, Spain, driven by their passion for aerospace engineering and a goal to make space more accessible. Torres specialises in rocket propulsion, while Verdú focuses on structures. Their work led to MIURA 1’s success in 2023, marking Europe’s first private orbital rocket flight.
Their vision? To give Europe its own competitive launch system, built on vertical integration and reusability. The first stage returns to Earth with parachutes and engines, and PLD wants to be the go-to infrastructure partner for satellite constellations, running launches from massive facilities in Spain, French Guiana, and Oman.
MIURA 5 stands 35 meters tall, has a 2-meter diameter, and is powered by five TEPREL-C turbopump engines. The first stage produces 950 kN of thrust using LOX and RP-1 biokerosene, while the second stage is optimised for vacuum operation.
Its key features include partial reusability with up to three flights per booster, a zero-debris design, flexible mission options like dedicated, piggyback, and rideshare, and a payload capacity of 540 to 900 kg to sun-synchronous or low Earth orbit, designed for small satellites that larger rockets don’t serve well.
Unlike SpaceX’s Falcon 9, which is too large for small payloads, Rocket Lab’s Electron, which is less reusable, or the now-defunct Astra, MIURA 5 focuses on European sovereignty. It offers a cost per kilogram under $10,000 and a fast reuse rate of three flights per booster without the complicated propulsive landings.
What’s next?
The funding will accelerate production and testing, help build the launch pad in Kourou, and enable MIURA 5 to debut in the fourth quarter of 2026, following ESA’s €169 million Launcher Challenge. Mitsubishi’s contracts will focus on the Asian market.
PLD aims to conduct more than 30 launches each year by 2030 and is progressing with research and development on the LINCE crewed capsule. Commercial operations are expected to start in 2027, with multiple launch sites to ensure reliable satellite constellations.
