the Spanish space startup grows with Japanese money

PLD Space has closed a Series C round of €180 million led by Mitsubishi Electric. With this injection, the Elche company exceeds the 350 million raised in total and has a clear path to carry out the first demonstration flight of its rocket Miura 5 before the end of 2026.

Why is it important. Spain has very few technology companies capable of raising this type of money on a global scale. PLD Space has not only achieved this, but has done so by attracting a top-level Japanese manufacturer that is not coming to make a financial bet but to secure access to launches for its clients in Asia.

That difference between a financial investor and a strategic investor changes everything.

Between the lines. Mitsubishi Electric has also signed an MOU with Lockheed Martin to collaborate on geostationary defense satellites. That the same week in which he signs that agreement he also leads this round in PLD Space is no coincidence.

Japan is building a chain of access to space so as not to depend on anyone, and PLD Space fits as a provider of low orbit launches for the constellation of satellites that that ecosystem needs. For the Spanish company, this means support that goes beyond capital: it is a seal of industrial credibility.

In figures:

• 180 million euros raised in Series C.
• More than 350 million in total accumulated financing.
• Planned capacity of 30 launches per year by the end of the decade.
• The Miura 5 can place up to 1,080 kg in low orbit.
• Target production: 4 rockets in 2026, 6 in 2027.

The context. Europe has had the problem of access to space on the table for years. The delays of Ariane 6 and the dependence on American launchers have made it clear that the continent does not have a mature private alternative.

He European Launcher Challengewhich calls for a test flight of a higher-capacity rocket before 2028, has acted as an accelerator for PLD’s roadmap. The company already designs the Miura Nextdesigned precisely to meet that institutional challenge.

The big question. PLD Space has proven that it can raise money and that it can fly hardware. He Miura 1suborbital rocket, completed its first launch in October 2023. But the jump to orbital is different.

Many launch startups have raised hundreds of millions and have not reached orbit. The real test begins when the Miura 5 takes off from Kourou, whose facilities should be ready in July. Until then, money buys time, but not guarantees.

In Xataka | “We are the company that has developed an orbital rocket the fastest”: PLD Space, one step away from making history from Spain

Featured image | PLD Space