Porsche SE invests in rocket technology start-up Isar Aerospace

Porsche SE, a German multinational corporation primarily known as a holding company of Volkswagen Group, has announced that has made an investment in Isar Aerospace Technologies GmbH (Isar Aerospace), a rocket technology start-up, adding it to its portfolio.

Isar Aerospace is a Munich-based company that develops and manufactures launch vehicles for the transport of satellites. Porsche SE acquired a low single-digit percentage stake in Isar Aerospace, amounting to USD 75 million, a new financing round for the company after it has raised more than 180 million US dollars from renowned investors such as HV Capital, Lakestar, Earlybird, and Airbus Ventures.

 

(adsbygoogle = window.adsbygoogle || []).push({});

Isar Aerospace plans its initial launch next year and offers a more cost-efficient and flexible launch capacity for satellites with “Spectrum,” the first launch vehicle developed by the company. The company said that it can provide cost benefits compared to currently available launch vehicles through a high degree of automation in the rocket production process.

The company also sees the demand for the launch of small satellites is expected to grow significantly in the coming years and aims to satisfy this demand by providing more cost-effective and flexible launch capabilities.

“As an investor with a focus on mobility and industrial technology, we are convinced that cost-efficient and flexible access to space will be an enabler of innovation in many industry sectors. With Isar Aerospace, we are investing in a company that is well-positioned to establish itself as a leading European manufacturer of launch vehicles,” said Lutz Meschke member of the board of management responsible for investment management, Porsche SE. “The rapid development of the company is impressive,” he added.

The post Porsche SE invests in rocket technology start-up Isar Aerospace appeared first on YugaTech | Philippines Tech News & Reviews.

Source: Yugatech