PLD Space Series C funding reached €180 million on March 4, 2026, with Japanese manufacturer Mitsubishi Electric Corporation leading the equity round as a strategic launch customer. The Spanish space transportation company said the capital will accelerate its industrial scale-up and support new commercial contracts for its MIURA 5 rocket in Japan and across the Asian market.
Additional investors in the round include the Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) and its INNVIERTE fund. The Spanish public funds management company COFIDES participated via its FOCO investment fund, while Nazca Capital joined through its Nazca Aeroespacial y Defensa INNVIERTE I FCR fund. Banco Santander acted as financial advisor, and Deloitte provided legal counsel to PLD Space.
PLD Space Series C Brings Total Funding Past €350 Million
With this round closed, PLD Space has raised over €350 million to date. The company said the financing advances its strategic roadmap, supporting its transition to commercial operations and the scaling of its industrial and launch capabilities. PLD Space now positions itself among a select group of private companies worldwide developing complete launch systems.
“This financing reinforces our technological and industrial leadership in the launcher market, enabling us to execute the next phase of our strategic roadmap with the speed and scale required to compete globally.”
Ezequiel Sánchez, Executive President, PLD Space
Sánchez added that MIURA 5 was designed to address a growing capacity gap in the market. He said the investment strengthens the company’s ability to transition into commercial operations and accelerates the build-out of industrial and launch infrastructure for global customers.
Mitsubishi Electric Joins as Strategic Launch Customer
Tomonori Sato, Mitsubishi Electric’s Executive Officer and Group President for Defense and Space Systems, said the company aims to combine PLD Space’s launch capabilities with Mitsubishi Electric’s strengths in the satellite business to address evolving customer requirements. The agreement covers small satellite launch services using the MIURA 5 rocket for Japan and the broader Asian region.
“We are pleased to collaborate with PLD Space, a company taking on the challenge of satellite launch services with a view toward the global market.”
Tomonori Sato, Executive Officer, Group President Defense & Space Systems, Mitsubishi Electric
The agreement preserves PLD Space’s strategic and operational governance while leveraging Mitsubishi Electric’s presence in space-related business and industrial expertise. Multi-launch contracts will support the deployment of future satellite constellations.
Spanish Government Backs Space Sovereignty Strategy
Spanish Minister of Science, Innovation and Universities Diana Morant stated that the round consolidates a strategic project with global impact. She said the Spanish Government backed PLD Space’s growth plans because investing in space means investing in technological sovereignty, strategic autonomy, and qualified employment generation.
The economy around space access continues to grow, and Spain’s public institutions have consistently supported PLD Space across multiple funding rounds. CDTI’s INNVIERTE fund has now reaffirmed its commitment by participating in this Series C.
MIURA 5 First Test Flight Targeted for 2026
PLD Space said MIURA 5 is on track for its first test flight in 2026. The company targets commercial activity exceeding 30 launches per year by 2030. The new capital drives industrial scale-up and expands production and test capacity across its global launch infrastructure.
The company has made substantial progress on civil engineering works at the launch complex at CSG in Kourou, French Guiana. PLD Space has also been selected for ESA’s European Launcher Challenge (ELC) programme, valued at €169 million. Its MIURA 1 technology demonstrator launched successfully on October 7, 2023, validating a development strategy based on vertical integration and risk reduction.
Sánchez stated that as demand for dependable access to space continues to rise, the company is reinforcing redundancy, test cadence, and flight cadence needed to sustain continuity across multiple locations. He said this approach strengthens operational buffers and assurance frameworks that global operators rely on to secure their long-term access-to-orbit strategies.