- PLD Space has raised €108 million in its Series C round, bringing its total funding to €488 million.
- Mitsubishi Electric and COFIDES again headed the funding round, with Endeavor Catalyst and MCH Private Equity joining as new investors.
- The funding follows Orbex’s collapse, which reduced the number of European launch providers from five to four.
Two engineers set up a rocket company in Elche, a Spanish city famous for shoe production, immediately after completing their studies. 15 years on, the space tech startup has secured an additional €108 million from a major Japanese industrial partner to support its growth.
PLD Space, a company involved in space transportation, has increased its Series C funding round by €108 million, bringing the total raised in this round to €288 million and its total funding to €488 million. The company originally closed its first €180 million Series C in March and then secured a €35 million commitment for its Kourou launch complex in June.
Raúl Torres and Raúl Verdú established PLD Space in 2011, both under the age of 30 at the time. Torres, who has since become CEO, began his studies in biology before switching to aerospace engineering. Verdú, who is currently the chief business development officer, was trained in industrial engineering.
The company currently employs more than 500 people at its sites in Elche, Teruel, French Guiana and Oman, with a total area of over 188,000 square metres.
What the money is for
PLD Space develops launch vehicles for small satellites, primarily the reusable MIURA 5 rocket. The company targets customers who want dedicated or rideshare access to orbit without waiting for a SpaceX launch.
The new funding will be used to industrialise the MIURA 5, expand production and testing, improve the launch infrastructure, and aid the transition to commercial operations. PLD Space intends to carry out more than 30 launches annually by 2030.
In 2026, Mitsubishi Electric Corporation secured a second funding extension and will also serve as a strategic launch customer in the Asian market. COFIDES, Spain’s state investment company, took part again as a co-investor, and Endeavor Catalyst and MCH Private Equity’s Spain Oman Private Equity Fund became new investors.
“This new milestone, which builds on the Series C round launched earlier this year, reinforces our capacity to execute PLD Space’s transition into a global commercial launch provider, while maintaining rigorous operational and financial discipline,” said Ezequiel Sánchez, PLD Space’s executive president.
A field that just lost a player
In 2025, Europe conducted fewer than 10 orbital launches, whereas the United States conducted more than 190.
Rocket Factory Augsburg relies on the satellite company OHB and also receives more than €190 million in support from the European Space Agency. Isar Aerospace in Germany has raised around €870 million and completed a €270 million Series D fundraising round in June.
The UK’s entry on ESA’s European Launcher Challenge shortlist went into administration in February 2026 after its Series D funding round failed to close. This action resulted in more than 150 jobs being lost and reduced the number of companies competing from five to four.
That Mitsubishi Electric and COFIDES are returning for a second round so soon after the first is noteworthy. The global market for space launch services is expected to expand from $25.3 billion in 2026 to $41.3 billion by 2030. While this growth could lead to more than one European launcher, recent developments indicate that not all of them will succeed.
PLD Space has not yet reached orbit, Isar has not completed its qualifying mission either, and RFA is still waiting for its first flight. The new funding gives PLD Space more time, but it does not guarantee a successful launch.
