PLD Space Series B Funding Attracts More Than $50 Million

12th Jan 2022
PLD Space Series B Funding Attracts More Than $50 Million

PLD Space funding has been topped by another $50 million in late 2021. The round that raised this final colossal sum was led by CDTI (Centre for the Development of Industrial Technology), Aciturri, and Arcano Partners. PLD Space is headquartered in Spain, precisely in Elche. They have developed the suborbital rocket MIURA 1 and the orbital rocket MIURA 5. MIURA 1 is planned for launch in late 2022 from Huelva. After the latest PLD Space funding, it is currently being prepared for testing

PLD Space Is Looking to Hire More People

While the MIURA 5 orbital vehicle is planned for launch later in 2024 from French Guiana, PLD Space is looking to expand its team and productive capacities. They say that they want more workforce this year, as many as 200 new employees, only to triple this number in the following three years. All this will be possible after the PLD Space funding tranches.

The Series B round of PLD Space funding had a second tranche as mentioned and was closed in equity and oversubscribed the funding target that it started with. The Aciturri company was especially of tremendous support, reinforcing its own position and encouraging the other financial partner to enter the game, too. The Elche space company looked for both public institutions and private investors to raise the money. CDTI made a commitment of over $2.9 million.

Raúl Verdú, who is both the Co-founder and COO of the Spanish space company, said that with the financial viability achieved via the PLD Space funding, the company would undertake MIURA 5’s first launch for commercial purposes.

CDTI Did a Lot for the PLD Space Funding

Javier Ponce Martínez, CDTI’s General Director, said that his company’s support for PLD Space was a commitment to the “new space” so that more interesting opportunities are being presented not only in a qualified sector but also a high-tech one.

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