Porsche invests in rocket technology start-up
Porsche SE is acquiring a low single-digit percentage stake in Munich-based Isar Aerospace Technologies GmbH.
Isar Aerospace develops and manufactures launch vehicles for the transport of satellites. The investment was part of a new financing round of Isar Aerospace. “As an investor with a focus on mobility and industrial technology, we are convinced that cost-efficient and flexible access to space will be an enabler of innovation in many industry sectors. With Isar Aerospace, we are investing in a company that is well-positioned to establish itself as a leading European manufacturer of launch vehicles,” says Lutz Meschke, responsible for investment management at Porsche SE, in a press release. Due to the advancements in the area of satellite technology and resulting business models, for example in the areas of connectivity and earth observation, demand for the launch of small satellites is expected to grow significantly in the coming years. As existing launch capacities are not sufficient or too expensive or inflexible, private companies like Isar Aerospace aim to satisfy this demand in a more cost-effective and flexible way compared to established space companies. The new financing round has a total volume of around USD 75 million. Overall, Isar Aerospace has raised more than USD 180 million from investors such as HV Capital, Lakestar, Earlybird and Airbus Ventures. With Isar Aerospace, Porsche SE is adding another promising company to its portfolio. The success of Porsche SE’s previous investments was most recently demonstrated by the public listings of its portfolio companies AEVA and Markforged.