Spanish Startup Expands in Asia with Mitsubishi Electric Partnership

Spanish space company PLD Space has closed a €180 million Series C funding round, led by Mitsubishi Electric Corporation, which will also become the startup’s strategic partner and launch customer. The funding will accelerate the development and industrial production of the MIURA 5 rocket, with PLD Space targeting at least 30 annual launches by 2030. The agreement is seen as a vector for the Spanish firm’s future expansion in the Asian satellite launch market. This round has also seen the participation of Spanish public and private investors, including Nazca Capital and the Centre for the Development of Technology and Innovation. The deal was announced by AeroTime.