PLD Space Secures €180M Series C to Accelerate Global Access to Space
PLD Space, an international space transportation company, has closed a €180 million Series C equity funding round led by the renowned Japanese manufacturer Mitsubishi Electric Corporation, alongside with other 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, have co-invested in this round. Ultimately, the European renowned Spanish fund Nazca Capital, via Nazca Aeroespacial y Defensa INNIVERTE I FCR Fund, close the round.
With over €350 million raised to date, this financing advances PLD Space’s strategic roadmap, supporting its transition to commercial operations and the scaling of its industrial and launch capabilities. PLD Space now consolidates its position among a select group of private companies worldwide developing complete launch systems, enabling global access to space supported by a strategic network of worldwide locations.
“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,” said 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.”
Tomonori Sato, Mitsubishi Electric’s Executive Officer, Group President, Defense & Space Systems said: “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 the satellite business, we aim to address evolving customer requirements, including those in the global market.”
This agreement will continue to ensure PLD Space's strategic and operational governance, while leveraging Mitsubishi Electric's presence in space-related business, industrial expertise and the multi-launch contracts to support the deployment of future satellite constellations. PLD Space will provide Mitsubishi Electric with small satellite launch services using its MIURA 5 rocket for Japan and across the Asian region, demonstrating international market confidence and positioning PLD Space as a trusted infrastructure provider on a global scale.
In addition to the lead investor, the Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) via its INNVIERTE fund, has reaffirmed its support to PLD Space by participating in this funding round. The round also attracted the participation of COFIDES, through its co-investment Fund FOCO, and from Nazca Capital, through its Nazca Aeroespacial y Defensa INNVIERTE I FCR fund, adding further depth to the investor group and underscoring the company’s leadership. In the transaction, Banco Santander acted as financial advisor and Deloitte provided legal counsel to PLD Space.
The Spanish Minister of Science, Innovation and Universities, Diana Morant, has 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.”
An investment that secures the company’s strategic roadmap
The new capital drives PLD Space’s industrial scale‑up and expands its production and test capacity. Leveraging its strategic global footprint, the company is building a global launch infrastructure and cementing its position among the most advanced private launch companies worldwide.
PLD Space is 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.
In this regard, Ezequiel Sánchez added: “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.”
PLD Space strengthens its position as a technological and industrial leader
With up to €170 million raised to date upon the closing of this Series C round, PLD Space has reached a level of technological and industrial maturity uncommon at this stage in the launch sector. This capital‑efficient trajectory includes 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.
These achievements confirm the company’s strong momentum and the confidence of markets and institutions in its roadmap. PLD Space demonstrates its progress and consolidates its industrial leadership through a vertical integration model based on unprecedented efficiency and reliability in Europe.