PLD Space has raised an additional €108 million in its Series C extension, lifting the round to €288 million and total funding since the company’s founding in 2011 to €488 million. The Elche-based launch provider will use the capital to industrialise the Miura 5 rocket, expand manufacturing and testing capacity, build launch infrastructure and prepare for commercial operations.
Mitsubishi Electric led the extension, with existing backer COFIDES returning and Endeavor Catalyst and the Spain Oman Private Equity Fund joining as new investors. The funding follows closely after the European Space Agency awarded PLD Space a €158.9 million contract under the European Launcher Challenge, a deal tied to the ramp-up of Miura 5 and the company’s move toward recurring orbital launch services.
PLD Space’s latest financing underlines the shift from development to industrial execution as it prepares Miura 5 for commercial service. The company has not disclosed a valuation.