{"id":61746,"date":"2026-03-04T10:13:33","date_gmt":"2026-03-04T07:13:33","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/pld-space-series-c-mitsubishi-electric-180-million\/"},"modified":"2026-03-04T10:13:33","modified_gmt":"2026-03-04T07:13:33","slug":"pld-space-series-c-mitsubishi-electric-180-million","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/pld-space-series-c-mitsubishi-electric-180-million\/","title":{"rendered":"PLD Space Closes \u20ac180M Series C Led by Mitsubishi Electric to Scale Global Launch Operations"},"content":{"rendered":"<p class=\"wp-block-paragraph\">PLD Space Series C funding reached \u20ac180 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.<\/p><p class=\"wp-block-paragraph\">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.<\/p><h2 class=\"wp-block-heading\">PLD Space Series C Brings Total Funding Past \u20ac350 Million<\/h2><p class=\"wp-block-paragraph\">With this round closed, PLD Space has raised over \u20ac350 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 <a href=\"\/category\/economy\/\">launch capabilities<\/a>. PLD Space now positions itself among a select group of private companies worldwide developing complete launch systems.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;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.&#8221;<\/p><cite>Ezequiel S\u00e1nchez, Executive President, PLD Space<\/cite><\/blockquote><p class=\"wp-block-paragraph\">S\u00e1nchez added that MIURA 5 was designed to address a growing capacity gap in the market. He said the investment strengthens the company&#8217;s ability to transition into commercial operations and accelerates the build-out of industrial and launch infrastructure for global customers.<\/p><h2 class=\"wp-block-heading\">Mitsubishi Electric Joins as Strategic Launch Customer<\/h2><p class=\"wp-block-paragraph\">Tomonori Sato, Mitsubishi Electric&#8217;s Executive Officer and Group President for Defense and Space Systems, said the company aims to combine PLD Space&#8217;s launch capabilities with Mitsubishi Electric&#8217;s strengths in the <a href=\"\/category\/smart-devices\/\">satellite business<\/a> to address evolving customer requirements. The agreement covers small satellite launch services using the MIURA 5 rocket for Japan and the broader Asian region.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;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.&#8221;<\/p><cite>Tomonori Sato, Executive Officer, Group President Defense &amp; Space Systems, Mitsubishi Electric<\/cite><\/blockquote><p class=\"wp-block-paragraph\">The agreement preserves PLD Space&#8217;s strategic and operational governance while leveraging Mitsubishi Electric&#8217;s presence in space-related business and industrial expertise. Multi-launch contracts will support the deployment of future satellite constellations.<\/p><h2 class=\"wp-block-heading\">Spanish Government Backs Space Sovereignty Strategy<\/h2><p class=\"wp-block-paragraph\">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&#8217;s growth plans because investing in space means investing in technological sovereignty, strategic autonomy, and qualified employment generation.<\/p><p class=\"wp-block-paragraph\">The <a href=\"\/category\/economy\/\">economy<\/a> around space access continues to grow, and Spain&#8217;s public institutions have consistently supported PLD Space across multiple funding rounds. CDTI&#8217;s INNVIERTE fund has now reaffirmed its commitment by participating in this Series C.<\/p><h2 class=\"wp-block-heading\">MIURA 5 First Test Flight Targeted for 2026<\/h2><p class=\"wp-block-paragraph\">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.<\/p><p class=\"wp-block-paragraph\">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&#8217;s European Launcher Challenge (ELC) programme, valued at \u20ac169 million. Its MIURA 1 <a href=\"\/category\/economy\/\">technology demonstrator<\/a> launched successfully on October 7, 2023, validating a development strategy based on vertical integration and risk reduction.<\/p><p class=\"wp-block-paragraph\">S\u00e1nchez 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.<\/p>","protected":false},"excerpt":{"rendered":"<p>PLD Space closed a \u20ac180 million Series C round led by Mitsubishi Electric, bringing total funding past \u20ac350 million as the company targets 30 launches per year by 2030.<\/p>\n","protected":false},"author":10,"featured_media":61745,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"{\"x_hook\":\"Spanish space company PLD Space has closed a \u20ac180M Series C round led by Mitsubishi Electric, pushing total funding past \u20ac350M as it targets its first MIURA 5 test flight later this year.\",\"x_takeaways\":\"Key Details:\\n\ud83d\udd39 \u20ac180M Series C led by Mitsubishi Electric, which joins as a strategic launch customer for Japan and Asia\\n\ud83d\udd39 MIURA 5 first test flight targeted for 2026, with commercial launches expected to exceed 30 per year by 2030\\n\ud83d\udd39 Total funding now exceeds \u20ac350M; PLD Space is also selected for ESA's \u20ac169M European Launcher Challenge programme\"}","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":0,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":83431,"footnotes":""},"categories":[24,516],"tags":[2181,2180,2179,2183,2182],"class_list":["post-61746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-tourism","tag-mitsubishi-electric","tag-miura-5","tag-pld-space","tag-series-c-funding","tag-space-launch","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PLD Space Series C - \u20ac180M Round Closes | Saudi 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