Elche-based PLD Space has closed a €180 million Series C equity round led by Japanese manufacturer Mitsubishi Electric Corporation, which has joined as a strategic launch customer. The round also included participation from the Spanish Ministry of Science, Innovation and Universities through CDTI and its INNVIERTE fund, the Spanish public investment company COFIDES via its FOCO fund, and Nazca Capital through its Nazca Aeroespacial y Defensa INNVIERTE I FCR fund. The financing brings PLD Space’s total raised to over €350 million.
The funding will support the industrial-scale-up of PLD Space, the build-out of launch infrastructure, and commercial operations for its MIURA 5 orbital launch vehicle, designed to address a growing capacity gap in the small-satellite market. The company plans its first MIURA 5 test flight in 2026 and expects to operate more than 30 launches per year by 2030. PLD Space is also expanding its global launch network, including commercial operations in Japan and Asia, leveraging Mitsubishi Electric’s market presence and multi-launch contracts.
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“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. 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.”
— Ezequiel Sánchez, Executive President, PLD Space
“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.”
— Tomonori Sato, Executive Officer, Group President, Defense & Space Systems, Mitsubishi Electric
“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.”
— Diana Morant, Spanish Minister of Science, Innovation and Universities
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