Spanish launch provider PLD Space has closed a €180 million Series C funding round led by Mitsubishi Electric Corporation, which invested €50 million and signed on as a strategic launch customer.
The investment brings PLD Space’s total funding to over €350 million, supporting industrialization of its MIURA 5 orbital rocket. The vehicle, capable of delivering up to 1,040 kg to low Earth orbit, is slated for its maiden flight in 2026 from a dedicated site at the Guiana Space Centre in French Guiana.
Mitsubishi Electric’s participation opens doors to the Asian satellite market, with multi-launch contracts targeting Japanese constellations and regional operators. The Japanese firm aims to secure reliable small-satellite launch capacity amid growing global demand.
Spanish investors, including Nazca Capital, CDTI’s INNVIERTE fund, and COFIDES, also joined the round. PLD Space recently secured selection in the European Space Agency’s €169 million European Launcher Challenge, bolstering its infrastructure buildout.
“This financing reinforces our technological and industrial leadership,” said PLD Space Executive President Ezequiel Sánchez. Mitsubishi’s Tomonori Sato added that combining launch capabilities with satellite expertise will meet evolving customer needs.
Following the 2023 MIURA 1 demonstrator success, PLD Space targets 30 annual MIURA 5 launches by 2030, addressing Europe’s launch capacity gap and positioning as a key private orbital provider.