Isar Aerospace was founded in March 2018 as a spin‑off from the Technical University of Munich. Based in Ottobrunn near Munich, it had grown to over 400 employees across five locations by mid‑2025.

Its core mission is to develop the Spectrum launch vehicle – a two‑stage, liquid‑fuelled rocket capable of placing up to 1,000kg into low‑Earth orbit or 700kg to sun‑synchronous orbit.

Spectrum is designed for economies of scale: with nine Aquila engines on the first stage and one on the second, all burning propane and liquid oxygen, it uses high automation and vertical integration to keep costs down – targeting roughly €10,000 per kilogram.

The company raised substantial venture funding to accelerate production. After initial angel and Series A rounds (€17 million in 2019) supported by Earlybird and Airbus Ventures, Isar secured a €75 million Series B in December 2020, followed by a further €75 million in mid‑2021 (including Porsche SE). A €155 million Series C in March 2023 brought total funding to over €400 million. In June 2024, NATO’s Innovation Fund participated in a Series C extension as part of a £220 million round, valuing Isar at roughly $1 billion.

On 30th March 2025, Spectrum lifted off from Andøya in its maiden test flight, making Isar the first European commercial company to launch an orbital rocket from continental Europe. The rocket cleared the pad successfully, reached about thirty seconds of flight, validated its flight‑termination system and collected data before being deliberately terminated and falling into the sea. Although it did not reach orbit, the flight was deemed a success by CEO Daniel Metzler, with two more Spectrum vehicles already in production.

“Our first test flight met all our expectations, achieving a great success. We had a clean liftoff, 30 seconds of flight and even got to validate our Flight Termination System. We demonstrated that we can not only design and build but also launch rockets. I could not be prouder of our entire team for working so hard over the past seven years to reach this important milestone. Today, we laid the foundation to cater to the rising global demand for flexible satellite launch services. Now it’s time to analyse all data, learn, iterate and be back on the launch pad as soon as possible,” said Daniel Metzler, CEO and Co-founder of Isar Aerospace.

The investment from Eldridge Industries will enable Isar Aerospace to expand its flexible and cost-efficient launch service offerings for its global clientele, while simultaneously strengthening sovereign European access to space. 

Metzler said: “We are catering to the rising global demand for satellite launch services and provide global markets and governments with independent and flexible access to space. This investment demonstrates strong confidence from global markets in our efforts to build a new space champion.”

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