PLD Space secures €108 million to advance MIURA 5 rocket development

Spanish space transport company PLD Space has secured an additional €108 million through an extension of its Series C funding round. This brings the total size of the Series C round to €288 million and increases the company’s cumulative funding to €488 million.

The funding extension was led by Japan’s Mitsubishi Electric Corporation, with participation from the Spanish state-owned investment firm COFIDES. New investors include the US-based Endeavor Catalyst fund and the Spain Oman Private Equity Fund (SOPEF), managed by MCH Private Equity. Banco Santander served as financial advisor, while Deloitte provided legal counsel.

The capital is earmarked to accelerate the industrialization of the MIURA 5, a two-stage reusable rocket designed to place small satellites into orbit. Specific uses for the funds include expanding production capacity at facilities in Elche and Teruel, developing launch infrastructure at the Guiana Space Centre in Kourou, and qualifying flight hardware. PLD Space aims to launch its first MIURA 5 rocket from French Guiana before the end of 2026.