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PLD Space Secures €180M in Series C Funding

March 6, 2026

2 min read

Key Takeaways

PLD Space raises €180 million in Series C funding.
Mitsubishi Electric leads funding and becomes strategic partner.
Funding accelerates MIURA 5 rocket development and production.
PLD Space targets 30 annual launches by 2030.

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Strategic Implications

This investment may indicate Mitsubishi Electric's growing interest in the satellite launch market. The partnership could strengthen PLD Space's position in Asia, suggesting a potential expansion of its customer base and revenue streams. The deal may also signal a shift in the global launch market, with new players emerging to challenge established competitors.

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What Happened

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.

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