Spanish launch provider PLD Space has completed a €180 million Series C funding round led by Mitsubishi Electric Corporation, which invested €50 million and will serve as a strategic partner and launch customer.
The capital will accelerate industrial production and infrastructure development for the MIURA 5 rocket, capable of delivering up to 1,040 kg to low Earth orbit. This brings PLD Space’s total funding to over €350 million, with additional backing from Spanish investors including Nazca Capital, CDTI, and COFIDES.
Mitsubishi Electric aims to secure dedicated launch capacity for small satellites to support its satellite data services amid growing constellation demands. The partnership positions PLD Space for market entry in Asia, combining its orbital capabilities with Mitsubishi’s satellite expertise.
PLD Space plans the MIURA 5 debut from a new CNES facility at Guiana Space Centre in 2026, targeting 30 annual launches by 2030. The company has secured contracts, including one with Sateliot, and benefits from €169 million in ESA European Launcher Challenge funding.
“This financing reinforces our leadership in the launcher market,” said PLD Space Executive President Ezequiel Sánchez. Mitsubishi’s Tomonori Sato added that the collaboration addresses evolving global customer needs in satellite deployment.