Isar Aerospace

Space · Aerospace · Defense Tech

Funding

Isar Aerospace Raises $312M Series D to Scale Spectrum Rocket Output

Defense customers now generate 60% of its launch demand as Europe scrambles to close a launch-capacity gap with the US.

• Isar Aerospace raised €270 million ($312 million) in a Series D round led by Island Green Capital and Molten Ventures, with existing investors also participating.
• Founded in 2018 and based near Munich, Isar Aerospace builds the Spectrum small launch vehicle in-house, positioning itself as a leading European alternative to foreign rocket providers.
• The funding will scale Spectrum production at its factory near Munich toward an annual output of up to 40 launch vehicles, up from today's early-stage rate.
• Isar signed a contract with Maritime Launch Services to build a dedicated Spectrum launch complex at Spaceport Nova Scotia in Canada, targeting first orbital launches by 2028.
• Defense-related business now makes up roughly 60% of Isar's demand, a sharp shift from a year ago when civil customers dominated.
• Europe conducted fewer than 10 orbital launches in 2025 compared with more than 190 in the US, a gap driving urgency around sovereign launch capacity.
• As European governments treat space as national infrastructure rather than exploration, launch providers that can industrialize production stand to capture a rapidly growing defense-driven market.