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PLD Space Closes €7 Million Investment in Tie-up with Arcano Partners

15 Sep 2020, 14:32 UTC
PLD Space Closes €7 Million Investment in Tie-up with Arcano Partners
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Spain’s PLD Space, Miura 5 microlauncher (formerly Arion 2) aims to provide dedicated launches for an emerging small satellites market in 2021. (Credit: PLD Space)

Venture part of tech firm’s Series B investment round for space vehicle developmentPLD Space already attracted over €18 million [$21.3 million] in private investment and institutional support in addition to new deal involving ArcanoArcano Partners a leading financial advisor in Iberian market

ELCHE, Spain, 15 September 2020 (PLD Space) — Spanish reusable launch vehicle developer PLD Space today announced the closure of further financing through a tie-up with independent financial advisory and alternative asset management group Arcano Partners. The €7 million [$8.3 million] venture will fund the build out of the PLD Space aerospace project in a deal forming part of its Series B investment round.

PLD Space, based out of Elche (Spain) and founded in 2011, is currently developing the MIURA 5 orbital launcher to provide a commercial launch service to the small satellite industry. As a technological and operational demonstrator, PLD Space is set to fire the suborbital rocket MIURA 1 to power the in-flight validation of the technologies needed to move forward with MIURA 5. It will also be able to carry ...

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