The global race to build reliable and commercially viable launch infrastructure is intensifying as demand for satellite deployment continues to grow. Private space companies are increasingly stepping in to fill the gap left by limited launch capacity worldwide. In this context, international space transportation company PLD Space has secured a significant €180 million Series C equity funding round to accelerate its transition from development to full commercial launch operations.
Major investment to support launch ambitions
The Series C round was led by Mitsubishi Electric Corporation, marking a strategic partnership between the Spanish launch provider and one of Japan’s leading technology groups. Additional participation came from the Spanish Ministry of Science, Innovation and Universities through the Centre for the Development of Technology and Innovation and its INNVIERTE fund, along with the public investment manager COFIDES through its FOCO investment fund. Nazca Capital also joined the round through its aerospace and defence investment vehicle.
With this new funding, PLD Space has now raised more than €350 million in total capital. The investment is intended to advance the company’s long term roadmap, supporting the transition toward commercial launch services while expanding its industrial and operational capabilities.
Building a global launch provider
PLD Space has emerged as one of a relatively small number of private companies worldwide developing complete launch systems capable of delivering payloads to orbit. The company is working to establish itself as a commercial launch provider able to carry satellites and other payloads for international customers.
Its strategy focuses on creating an integrated launch infrastructure that combines manufacturing, testing and launch operations across multiple locations. By building a global network of launch capabilities, the company aims to provide dependable and flexible access to space for commercial and institutional clients.
According to the company’s leadership, strengthening industrial capacity and launch infrastructure will be essential as satellite demand continues to increase across sectors such as communications, earth observation and defence.
MIURA 5 rocket moves toward first flight
At the centre of PLD Space’s commercial ambitions is the MIURA 5 launch vehicle, a rocket designed to address the growing demand for dedicated small satellite launches. The rocket is currently on track for its first test flight in 2026, a milestone that will mark the company’s transition from development to operational launch services.
Once operational, the company expects to scale its launch cadence significantly. PLD Space anticipates that by 2030 its operations could support more than 30 launches annually, positioning it as an important provider within the rapidly expanding global satellite launch market.
Company leadership has highlighted that the MIURA 5 programme was designed specifically to address a clear gap in launch capacity. As the number of satellites being deployed continues to rise, particularly in low earth orbit, launch providers capable of offering reliable and frequent missions are becoming increasingly valuable.
Strategic partnership with Mitsubishi Electric
The involvement of Mitsubishi Electric adds an important international dimension to PLD Space’s growth plans. Through the partnership, PLD Space will provide small satellite launch services using the MIURA 5 rocket for Japan and across the wider Asian market.
By combining the launch capabilities developed by PLD Space with Mitsubishi Electric’s expertise in satellite technology, the collaboration aims to address evolving global customer requirements. The partnership also demonstrates growing international confidence in PLD Space’s technology and operational roadmap.
Strengthening Europe’s role in the space economy
The new funding also reflects strong support from Spanish public institutions, which view PLD Space as an important contributor to Europe’s growing space economy. Investments in launch capabilities are increasingly linked to broader goals of technological sovereignty, strategic autonomy and the creation of highly skilled employment.
With the Series C funding secured, PLD Space plans to expand production capacity, enhance testing infrastructure and build additional launch capabilities around the world. The company is also working to strengthen operational redundancy and launch cadence to ensure reliable service for customers planning long term satellite missions.
As the demand for access to orbit continues to rise, the expansion of commercial launch providers such as PLD Space is expected to play a key role in supporting the next generation of global space activity.