British venture capital firm Molten Ventures Plc (GROW.L) announced on Wednesday that it has invested 30 million euros in German rocket maker Isar Aerospace, as part of a 270 million euro Series D funding round.
The investment by Molten, which focuses on high-growth digital technology businesses, comes alongside Island Green Capital and existing backers.
The capital is expected to help Isar Aerospace scale global operations and ramp up serial production of its Spectrum launch vehicle.
Munich-based Isar Aerospace, founded in 2018, builds small and medium-sized satellite launch vehicles and aims to provide sovereign launch capability for European customers.
Isar Aerospace said it is addressing a "structural supply deficit" in European launch services, while demand is accelerating .
"As space becomes essential infrastructure for governments and commercial enterprises, launch capacity remains the critical bottleneck. Our mission with Isar Aerospace is to deliver resilient, competitive launch capabilities to Europe, NATO, and its allies. Molten's long-term, high-conviction support will help us accelerate our next phase of global expansion as we continue scaling our integrated launch services", Isar Aerospace Co-Founder and Chief Executive Daniel Metzler said in a statement. Molten already held an indirect stake in Isar through an investment in Earlybird funds. The fair value of that holding was 40 million pounds as of March 31, representing a 10.1 times multiple on invested capital.
On the LSE, shares of Molten Ventures were gaining 0.80 percent, changing hands at 629.50 pence.
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