Isar Aerospace
Isar Aerospace is a German aerospace company based in Munich, Germany. The company was founded in 2018. The company is named after the river that flows through Munich. Development. The company is developing , a two-stage, liquid-fueled rocket designed to launch 1,000 kilograms to low Earth orbit. Isar Aerospace intends to manufacture 80% of the rocket themselves, using primarily technology from the tech firms in the area surrounding Munich. The first test flight of Isar Aerospace is scheduled for 2022. Funding. 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. 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. In total, the startup has raised more than $180 million from investors such as HV Capital, Lakestar, Earlybird and Airbus Ventures. In January 2022 the company won European Commission’s European Innovation Council (EIC) Horizon Prize “Low-Cost Space Launch”, granted with 10 million euros.