This Isar Aerospace company profile covers the company's valuation, revenue, funding rounds, investors and history. Isar Aerospace works in space, with a focus on launch vehicles. It was founded in 2018 and is headquartered in Ottobrunn, Bavaria, Germany. Its latest valuation on record is More than €2 billion (June 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jun 2026 | Series D | €270M | More than €2B | Island Green Capital and Molten Ventures (reported leads); HV Capital, Lakestar, UVC Partners, KfW Capital | Vestbee |
Isar Aerospace timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2018 — Isar Aerospace is founded in Ottobrunn by Daniel Metzler (CEO), Josef Fleischmann and Markus Brandl.
- Jun 2026 — Series D: €270M, valuing the company at More than €2B. Investors: Island Green Capital and Molten Ventures (reported leads); HV Capital, Lakestar, UVC Partners, KfW Capital.
Investors
Overview
Isar Aerospace is a German company building rockets to launch small and medium satellites into orbit. Its Spectrum rocket is designed to carry up to about one tonne to low Earth orbit, serving satellite operators, governments and research institutions that want dedicated or shared launches from Europe. Isar has become one of Europe's best-funded private space companies, as European governments seek independent access to space after delays to Ariane 6, the loss of access to Russian Soyuz launches and heavy reliance on SpaceX. In June 2026 it raised €270 million in a Series D that a law firm advising investors said valued it at more than €2 billion.
Daniel Metzler, the CEO, Josef Fleischmann and Markus Brandl founded Isar Aerospace in 2018 as a spin-off from the Technical University of Munich, where they had been involved in student rocketry. The company is based in Ottobrunn, near Munich, and launches from Andøya Spaceport in northern Norway, under an exclusive long-term agreement for one of the site's launch pads.
Products
- Spectrum: a two-stage rocket using liquid oxygen and propane, designed to carry up to about 1,000 kg to low Earth orbit.
- Aquila engines: engines developed and built in-house.
- Launch services: dedicated and rideshare launches for commercial and institutional customers.
Funding
Isar Aerospace raised hundreds of millions of euros before its Series D from investors including Lombard Odier, Porsche SE, HV Capital, Lakestar, UVC Partners, Earlybird and Eldridge Industries. It also won support through European Space Agency and German government programmes. In June 2026 it announced a €270 million Series D, reportedly led by Island Green Capital and Molten Ventures with existing investors including HV Capital, Lakestar, UVC Partners and KfW Capital. Greenberg Traurig, which advised investors, described the company as having a valuation of more than €2 billion; the company's own statement did not specify a valuation, so readers should treat the figure accordingly.
Business model
Isar sells launch services, charging customers per launch or per kilogram on shared missions. Institutional customers such as ESA and national space agencies are important, and European initiatives to support domestic launch providers can provide contracts. Building engines and most rocket parts in-house aims to reduce costs and increase control over production. Its economics depend on achieving reliable, frequent launches.
Competition
Isar competes with SpaceX's rideshare missions, which offer low prices; with Rocket Lab's Electron; with European launch startups such as Rocket Factory Augsburg, PLD Space, Orbex and MaiaSpace; and with Arianespace's Vega C. Its advantages are strong funding, a dedicated launch site and an early position among European private launchers.
Isar Aerospace at a glance
Isar Aerospace is a German launch company founded in 2018 by Daniel Metzler, Josef Fleischmann and Markus Brandl, based near Munich and launching from Norway. It builds the Spectrum rocket for small and medium satellites. It raised €270 million in a June 2026 Series D, at a valuation reported by an adviser as more than €2 billion.
Timeline
- 2018: founded as a spin-off from the Technical University of Munich.
- 2021: raises large rounds and signs launch site agreement in Norway.
- 2024: completes rocket testing ahead of a first flight.
- March 2025: first Spectrum flight test from Andøya, ending shortly after lift-off.
- June 2026: raises €270 million at a reported valuation of more than €2 billion.
The first flight
In March 2025, Isar launched its first Spectrum rocket from Andøya, the first orbital launch attempt from continental Europe outside Russia. The rocket lifted off but lost control and fell into the sea within about 30 seconds. The company described it as a successful test that produced valuable data, since first flights of new rockets often fail. Subsequent flights are needed to prove that Spectrum can reach orbit reliably.
Why Europe wants its own launchers
After Russia's invasion of Ukraine ended European use of Soyuz, delays to Ariane 6 and Vega C problems left Europe with limited launch options, and many European satellites launched on SpaceX rockets. Governments and the European Space Agency have since supported new launch providers through competitions and contracts, seeking resilience and strategic independence. Defense satellite programmes have increased demand further.
Who uses Isar Aerospace
Isar's customers include satellite companies, research institutions, the European Space Agency, national space agencies and defense organisations seeking European launch capacity.
Valuation context
A valuation above €2 billion makes Isar one of Europe's most valuable space companies. Our guide to the largest European startups provides comparisons.
Risks
- Launch failures: new rockets frequently fail early flights.
- Price competition: SpaceX rideshare prices are hard to match.
- Funding needs: rocket development requires continued capital.
- Policy dependence: European support programmes affect demand.
Questions for satellite operators
- What launch dates and orbits are available?
- What is the price per kilogram compared with rideshare alternatives?
- What reliability record will the rocket have by your launch date?
How small launchers compete with SpaceX
SpaceX's Transporter rideshare missions carry dozens of satellites at once at low prices per kilogram, which has made it difficult for small rocket companies to compete on cost. Small launchers instead offer dedicated launches: the customer chooses the orbit and launch date rather than waiting for a rideshare slot and accepting its orbit. This flexibility matters for constellation operators replacing satellites, for defense missions requiring rapid response and for customers needing specific orbits. Isar's Spectrum is larger than some small launchers, carrying up to about one tonne, which helps its economics. European customers may also prefer a European launcher for strategic reasons, even at somewhat higher prices.
Andøya and Northern Europe's spaceports
Several spaceports are being developed in Norway, Sweden and the UK to give Europe more launch sites closer to customers. Andøya's northern location suits polar and sun-synchronous orbits used by many Earth observation satellites. Isar's long-term agreement for its own pad gives it control over its launch schedule.
Latest developments (October 2026)
Isar Aerospace reached orbit with its Spectrum rocket on 5 September 2026, launching from Andøya Spaceport in Norway in what the European Space Agency described as the first orbital launch from continental Europe, according to ESA. Earlier, in June 2026, it closed a €270 million Series D led by Island Green Capital and Molten Ventures, bringing total funding to about €870 million, according to Aviation News. See our space startups guide.
What to watch
Watch upcoming Spectrum flights, ESA contracts and defense launch demand.
Takeaways
Satellite operators may gain a European launch option. Founders can see how student rocketry grew into a major company. Investors should watch flight results closely.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Isar Aerospace do?
Isar Aerospace is a space / launch vehicles company headquartered in Ottobrunn, Bavaria, Germany. It was founded in 2018.
What is Isar Aerospace's valuation?
Isar Aerospace was valued at More than €2 billion as of June 2026, according to Greenberg Traurig press release. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Isar Aerospace make?
Isar Aerospace is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Isar Aerospace's latest funding round?
The most recent financing we have verified is a series d in Jun 2026: €270M, at a valuation of More than €2B. Source: Vestbee.
Who are Isar Aerospace's investors?
Investors named in public announcements include Island Green Capital, Molten Ventures, HV Capital, Lakestar, UVC Partners, KfW Capital, Porsche SE and Eldridge Industries.
Who founded Isar Aerospace?
Isar Aerospace was founded in 2018 by Daniel Metzler (CEO), Josef Fleischmann and Markus Brandl.
Is Isar Aerospace a public company?
No. Isar Aerospace is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Isar Aerospace headquartered?
Isar Aerospace is headquartered in Ottobrunn, Bavaria, Germany.