PLD Space Secures €180M Series C Led by Mitsubishi Electric to Scale Global Launch Services

PLD Space is doubling down on its ambition to become a global launch provider.

The Spanish launch company has secured €180 million in Series C funding, marking a major milestone in its strategy to scale launch infrastructure, expand industrial capacity, and transition toward full commercial launch operations.

The round is led by Mitsubishi Electric Corporation, which joins PLD Space not only as an investor but also as a strategic launch customer. The investment strengthens the company’s position as one of the few private players globally developing a complete launch system capable of delivering satellites to orbit.

With this round, PLD Space has now raised more than €350 million in total funding, reinforcing its ambition to deliver reliable and competitive access to space for governments, commercial operators, and constellation providers worldwide.

Strategic Investment Anchors PLD Space’s Global Expansion

The Series C round brings together a strong coalition of public and private investors backing Europe’s growing launch ecosystem.

Participants include:

• The Centre for the Development of Technology and Innovation through its INNVIERTE fund

• COFIDES via the FOCO co-investment fund

• Nazca Capital, through its aerospace and defense investment vehicle

Financial advisory support for the transaction was provided by Banco Santander, while Deloitte served as legal counsel.

The funding will accelerate PLD Space’s industrial scale-up, allowing the company to expand production capacity, increase testing cadence, and strengthen launch infrastructure across its global network.

Mitsubishi Electric Partnership Opens Asia Market

A key dimension of the investment is the strategic partnership with Mitsubishi Electric, which is expected to unlock new launch opportunities in Japan and the broader Asian market.

Under the agreement, PLD Space will provide small satellite launch services using its MIURA 5 rocket, supporting the deployment of future satellite constellations and expanding launch access for regional customers.

Tomonori Sato, Executive Officer and Group President for Defense & Space Systems at Mitsubishi Electric, emphasized the strategic alignment between the two companies:

“By combining PLD Space’s launch capabilities with Mitsubishi Electric’s strengths in the satellite business, we aim to address evolving customer requirements across the global market.”

The collaboration reflects growing demand for responsive, flexible launch services as governments and commercial operators expand satellite constellations worldwide.

MIURA 5: Europe’s Next Commercial Launcher

At the center of PLD Space’s roadmap is MIURA 5, the company’s orbital launch vehicle designed to serve the rapidly expanding small satellite market.

The rocket is expected to perform its first test flight in 2026, paving the way for commercial operations shortly thereafter.

PLD Space aims to scale operations to more than 30 launches per year by 2030, positioning itself as a key infrastructure provider for satellite operators seeking reliable access to orbit.

The company’s development strategy has already been validated through the successful launch of MIURA 1 Launch on October 7, 2023, which demonstrated core technologies for the MIURA launcher family.

Building Europe’s Launch Infrastructure

Beyond vehicle development, PLD Space is investing heavily in launch infrastructure and industrial capacity.

Construction is underway for the company’s launch complex at the Guiana Space Centre, one of the world’s premier launch sites.

The company has also been selected for the European Launcher Challenge, a program worth €169 million designed to strengthen Europe’s sovereign launch capabilities.

According to PLD Space Executive President Ezequiel Sánchez, the new funding allows the company to move rapidly into its next phase of growth.

“MIURA 5 was designed to address a clear and growing capacity gap in the market. This investment accelerates the industrial and launch infrastructure required to deliver reliable access to space for an expanding pipeline of global customers.”

Strengthening Europe’s Strategic Autonomy in Space

The investment also reflects broader geopolitical and industrial priorities.

Spain’s Minister of Science, Innovation and Universities, Diana Morant, described the funding as a strategic milestone for Europe’s space economy.

“This project strengthens Spain’s position within the global space economy. Investing in space means investing in technological sovereignty, strategic autonomy, and high-value employment.”

As demand for satellite launches continues to surge, driven by defense needs, Earth observation systems, and global connectivity constellations, companies like PLD Space are emerging as critical infrastructure providers for the next generation of space capabilities.

With fresh capital, new strategic partners, and an expanding launch roadmap, PLD Space is positioning itself to become one of Europe’s most significant commercial launch players in the coming decade.