PLD Space secures €180M to accelerate global access to space

PLD Space, an international space transportation company, has closed an EUR 180 million Series C equity funding round led by Japanese manufacturer Mitsubishi Electric Corporation alongside 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. Spanish fund Nazca Capital, via Nazca Aeroespacial y Defensa INNIVERTE I FCR Fund, closed the round.

With over EUR 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.  

“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.”

“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,” said Tomonori Sato, Mitsubishi Electric’s Executive Officer, Group President, Defense & Space Systems. “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 leverage 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.