Isar Aerospace intends to manufacture 80% of the rocket themselves, using almost only technology from the area surrounding Munich.
The company is developing Spectrum, a two-stage, liquid-fueled rocket designed to launch 1,000 kilograms to low Earth orbit.
In April 2020 Isar Aerospace closed US$17M in Series A funding to build its space platform.
In December 2020, the company got an additional €75 million ($91 million) in funding. The first launch of the rocket is planned for 2022.
In April 2021, Isar Aerospace, signed a contract with Andøya Space to lease the launch pad. The 20-year deal will allow the company to launch the Spectrum.
In July 2021, Porsche has acquired a small stake in Isar Aerospace. The financial terms of the deal are not disclosed, but it is known that in the new round of financing, the startup raised about $75 million. The company commented this purchase by explaining that Isar Aerospace has great potential to become a leading European manufacturer of launch vehicles.
The first test flight of Isar Aerospace is scheduled for 2022.
In total, the startup has raised more than $180 million from investors such as HV Capital, Lakestar, Earlybird and Airbus Ventures.