# Isar Aerospace — European orbital rockets for small satellites.

Isar Aerospace builds Spectrum, a two-stage orbital launch vehicle for small and medium satellites, manufacturing the majority of the rocket in-house in Munich to give Europe its own independent route to orbit.

Founded

2018

Headquarters

Ottobrunn, Germany

Category

Space, Hardware, Defense

Legal name

Isar Aerospace SE

## Highlights

Notable milestones from Isar Aerospace’s journey — funding rounds, launches, and other moments worth knowing.

Funding - Jun 2025

### €150M from Eldridge tips Isar into unicorn territory

A convertible bond from Eldridge Industries added roughly €150M to fund expanded launch capability and production, valuing the TU Munich spin-out at over $1B and making it one of Europe's most valuable New Space companies.

Round

Convertible Bond

Raised

$175M

Valuation

$1B

Led by

Eldridge Industries

[Source](https://isaraerospace.com/press/isar-aerospace-signs-agreement-with-eldridge-industries-for-eur-150m-financing)

Launch - Mar 2025

### Spectrum lifts off — the first orbital launch from continental Europe

The maiden "Going Full Spectrum" flight cleared the pad at Andøya before an anomaly ended it after about 30 seconds and it fell into the sea. No payload was aboard; clearing the tower on a first attempt and gathering full flight data made it a landmark for European launch all the same.

**Spectrum clears the pad at Andøya on 30 March 2025 — the first orbital launch attempt from mainland Europe.**

[Source](https://isaraerospace.com/press/isar-aerospace-lifts-off-successfully-during-first-test-flight-of-orbital-launch-vehicle)

Funding - Mar 2023

### $165M Series C, the world's biggest SpaceTech round of 2023

Backed by Porsche SE, HV Capital, Earlybird, Lakestar, Lombard Odier and others, the round pushed total funding past $330M and made Isar the most heavily capitalised independent New Space company in the EU.

Round

Series C

Raised

$165M

Led by

Earlybird Venture Capital, HV Capital, Lakestar

[Source](https://isaraerospace.com/press/space-company-isar-aerospace-secures-series-c-funding-round-of-usd-165m)

Recognition - Nov 2021

### Wins Germany's microlauncher competition, beating RFA and HyImpulse

DLR picked Isar over its German rivals for an €11M ESA-backed contract to fly institutional European payloads on Spectrum's first two flights — the first time the German government entrusted launches to a privately financed European company.

[Source](https://isaraerospace.com/press/isar-aerospace-seals-win-of-the-german-microlauncher-competition-award-with-esa-and-will-be-first-privately-funded-european-company-providing-launch-services-to-european-institutional-payloads)

Funding - Jul 2021

### $165M Series B — the largest SpaceTech round in Europe

A round opened in late 2020 under Lakestar and extended in mid-2021 under HV Capital, Porsche SE and Lombard Odier grew to over $165M — the biggest private SpaceTech raise Europe had seen, funding the push toward a first launch.

Round

Series B

Raised

$165M

Led by

Lakestar, HV Capital

[Source](https://isaraerospace.com/press/isar-aerospace-extends-its-series-b-funding-round-to-over-usd-165m-led-by-hv-capital-porsche-se-and-lombard-odier)

Expansion - Apr 2021

### Locks down Andøya as its launch site for up to 20 years

Isar signed exclusive access to the first orbital pad at Norway's Andøya Spaceport — becoming its anchor tenant on a 20-year deal and securing a high-latitude site purpose-built for the polar and sun-synchronous orbits its satellite customers want.

**Isar's dedicated launch complex at Andøya, jutting into the Norwegian Sea above the Arctic Circle.**

[Source](https://isaraerospace.com/press/launch-site-secured-isar-aerospace-signs-exclusive-launch-pad-in-norway-for-up-to-20-years)

Milestone - Sep 2020

### Opens its Munich factory, set on building ~80% of the rocket in-house

Bavaria's Minister-President opened Isar's production hall in Ottobrunn near Munich. The vertically integrated bet — additively manufactured engines, tanks built as single parts, roughly 80% of the value chain in-house — was the plan for making Spectrum cheaply and at volume.

**Inside the Ottobrunn factory, where Isar builds the bulk of Spectrum itself rather than buying it in.**

[Source](https://isaraerospace.com/press/isar-aerospace-starts-production-of-orbital-launch-vehicles)

Team - Jan 2018

### Three TU Munich rocketeers spin out to build Europe's own launch vehicle

Daniel Metzler, Josef Fleischmann and Markus Brandl turned their work in TU Munich's student rocketry group WARR into a company, betting that a privately built European launcher could end the continent's dependence on foreign rides to orbit.

**Co-founders Daniel Metzler (left) and Josef Fleischmann, who started Isar out of TU Munich's WARR rocketry group.**

[Source](https://en.wikipedia.org/wiki/Isar_Aerospace)