PLD Space secures €108M for Miura 5 rocket
Spanish launch firm PLD Space adds €108 million to its Series C funding, bringing the total to €288 million. The capital will support industrialisation of the Miura 5 rocket ahead of its planned inaugural flight.
PLD Space secures €108 million, extending its Series C funding to €288 million. The Spanish launch services provider is preparing for the inaugural flight of its Miura 5 rocket later this year.
The funding extension was announced on 1 September, just under six months after the company closed an initial €180 million tranche. The new €108 million investment was led by Mitsubishi Electric Corporation, which also led the earlier round. This announcement comes less than a week after the European Space Agency awarded the company a €158.9 million contract as part of its European Launcher Challenge.
According to the company, the new capital will support the industrialisation of its Miura 5 rocket, including by boosting production and test capacity. It will also support the construction of launch infrastructure and the company's transition towards commercial operations.
"This new milestone, which continues the Series C round initiated earlier this year, reinforces our ability to execute PLD Space's transition into a global provider of commercial launch services, while maintaining rigorous operational and financial discipline," said PLD Space executive president Ezequiel Sánchez.
Funding and Strategic Backing
While sharing a name and historical lineage with Mitsubishi Heavy Industries, the manufacturer of Japan's H3 rocket, Mitsubishi Electric is a separate and independently operated company. The latest injection of funds significantly expands the resources available for PLD Space's flagship rocket program.
The company's financial runway has been substantially extended. The combined Series C funding and the recent ESA contract provide a solid foundation for its upcoming operational phase.
The Miura 5 Launch Vehicle
PLD Space is currently working towards the inaugural flight of its Miura 5 rocket. The two-stage rocket is designed to deliver payloads of up to 540 kilograms to a sun-synchronous orbit.
| Specification | Detail |
|---|---|
| Vehicle Name | Miura 5 |
| Stages | Two |
| Payload Capacity (to SSO) | Up to 540 kg |
In early August, the company revealed that a Miura 5 second stage had been shipped to the United States for a flight termination system test. The company did not, however, give an indication of when this test would occur.
Launch Infrastructure and Timeline
Critical ground infrastructure is being developed at the Guiana Space Centre. In June, the company said civil works at its launch complex on the grounds of the Guiana Space Centre were expected to be completed by summer, although it did not specify whether this referred to summer in mainland France or French Guiana. In the same announcement, the company added that it was on track to conduct the rocket's inaugural flight before the end of 2026.
Since its June announcement, the company has not provided any further update on whether the debut of Miura 5 remains on track for late 2026.
