PLD Space lands 180m euro boost to advance global launch services

by Clarence Oxford
Los Angeles CA (SPX) Mar 11, 2026
PLD Space has closed a 180 million euro Series C equity funding round that will accelerate the company's transition to commercial launch operations and expand its global infrastructure for small satellite missions. The round is led by Mitsubishi Electric Corporation, which joins as a strategic launch customer for PLD Space's MIURA 5 rocket in Japan and across the wider Asian market.

The Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) and its INNVIERTE fund, has taken part in the funding. Additional capital comes from the Spanish public funds management company COFIDES through its FOCO co-investment fund and from Nazca Capital via its Nazca Aeroespacial y Defensa INNVIERTE I FCR fund, further broadening PLD Space's investor base.

With this transaction, PLD Space has now raised more than 350 million euros since its founding, reinforcing its position among a small group of private companies developing complete orbital launch systems. The new capital supports the build out of industrial and launch capabilities at multiple global locations, aimed at delivering reliable and competitive access to space for a growing roster of international customers.

"This financing reinforces our technological and industrial leadership in the launcher market, enabling us to execute the next phase of our strategic roadmap with the speed and scale required to compete globally," said Ezequiel Sanchez, PLD Space's Executive President. He added that MIURA 5 is designed to respond to a clear and growing capacity gap in the launch market and that the new investment strengthens the company's ability to move into full commercial operations.

Mitsubishi Electric will combine PLD Space's launch capabilities with its own satellite business to support customers in Japan and abroad. "We are pleased to collaborate with PLD Space, a company taking on the challenge of satellite launch services with a view toward the global market. By combining PLD Space's launch capabilities with Mitsubishi Electric's strengths in the satellite business, we aim to address evolving customer requirements, including those in the global market," said Tomonori Sato, Mitsubishi Electric's Executive Officer and Group President for Defense and Space Systems.

Under the agreement, PLD Space retains strategic and operational control while benefiting from Mitsubishi Electric's experience in space-related industries and multi-launch contracts linked to future satellite constellations. PLD Space will provide small satellite launch services with MIURA 5 to serve missions originating in Japan and other Asian markets, reflecting growing international confidence in the company as a long-term launch infrastructure provider.

Spain's innovation agencies and investment funds have again signaled their backing for PLD Space's growth strategy. CDTI, through INNVIERTE, has reaffirmed its support in this latest round, while COFIDES and Nazca Capital bring additional institutional depth and expertise. Banco Santander acted as financial advisor on the transaction and Deloitte provided legal counsel to PLD Space.

Spanish Minister of Science, Innovation and Universities Diana Morant said that the new funding round consolidates a strategic project with global impact that originated in Spain, and strengthens the country's role in the emerging space economy. She noted that the Government views investment in space as a way to secure technological sovereignty, strategic autonomy and the creation of highly qualified jobs.

The fresh capital will drive PLD Space's industrial scale up and enlarge its production and test capacity. The company is building a network of launch sites and supporting infrastructure to sustain a high launch cadence and redundancy across several locations, which it sees as essential for customers seeking long-term, dependable access to orbit.

PLD Space is preparing to transition from development to regular commercial launches of satellites and payloads. MIURA 5 remains on track for a first test flight in 2026, and the company expects to ramp up to more than 30 launches per year by 2030 as demand for small satellite deployment continues to climb.

"As demand for dependable access to space continues to rise, we are reinforcing the redundancy, test cadence and flight cadence needed to sustain continuity across multiple locations," Sanchez said. He explained that this approach is designed to offer operators strong operational buffers and assurance frameworks to support long-term constellation deployment strategies.