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PLD Space raises €7 million as it aims for sounding rocket’s 2021 debut

18 Sep 2020, 20:34 UTC
PLD Space raises €7 million as it aims for sounding rocket’s 2021 debut
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VALLETTA, Malta — Launch startup PLD Space of Spain raised 7 million euros ($8.2 million) this week from Madrid-based investment bankers Arcano Partners to continue development of its Miura family of partially reusable rockets.
PLD Space spokeswoman Lorena Santos said Sept. 17 the new investment will allow the Elche, Spain-based company to add at least 10 people to its roughly 40-person staff as it works toward a late 2021 or early 2022 debut of its Miura 1 suborbital rocket.
The investment is part of an ongoing Series B funding round being managed by ArcanoBlueBull, a four-year-old technology M&A firm that merged with Arcano Partners earlier this year.
Santos declined to say when PLD Space expects to close its Series B round or how much it seeks to raise. The company’s nearly 17-million-euro Series A round — raised with BlueBull’s help — took more than two years to close, wrapping up in 2019 with a 9-million-euro tranche.
Jon Garaiyurrebaso, an investment banking partner at Arcano Partners, said PLD Space is the firm’s first foray into Spain’s space technology sector. “Although there are a few technological challenges to overcome, we think PLD is in the path to be one of the ...

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