International space transportation company, PLD Space, has closed a €180 million Series C equity funding round led by Mitsubishi Electric Corporation.

The round included the Spanish Ministry of Science, Innovation and Universities, through the Centre for the Development of Technology and Innovation (CDTI) and its INNVIERTE fund, COFIDES, and Nazca Capital.

With over €350 million raised to date, this financing advances PLD Space’s strategic roadmap, supporting its transition to commercial operations and the scaling of its industrial and launch capabilities.

MIURA 5 and future plans

PLD Space is preparing to transition into a commercial launch provider operating regular missions to deliver satellites and payloads. MIURA 5 is on track for its first test flight in 2026, with commercial activity expected to exceed 30 launches per year by 2030.

PLD Space will provide Mitsubishi Electric with small satellite launch services using its MIURA 5 rocket for Japan and across the Asian region.

Government Support

The Spanish Minister of Science, Innovation and Universities, Diana Morant, has stated that “the closing of this series consolidates a strategic project with global impact born in our country, reinforcing Spain’s key position within the space economy. The Spanish Government has backed PLD Space’s growth plans, because investing in space means investing in technological sovereignty, strategic autonomy and qualified employment generation.”