BlueBull, the Tech-focused Financial Advisory firm, acted as exclusive advisor to PLD Space on its strategic Series B investment process.
The investment enables the Spanish firm to advance in its next strategic milestones, such as the launch of its MIURA 1 suborbital rocket in 2022 and the MIURA 5 orbital in 2024, as well as expanding its productive and personnel capacities.
About PLD Space
Contracts with Space Agencies
PLD Space is a pioneering Spanish company in the aerospace sector and a reference within Europe in the development of reusable rockets, with a recognized prestige in the sector and a solid project that has become a reality through its launch vehicles: the MIURA 1 suborbital and MIURA 5 orbital rockets, which will place Spain among the few countries with the capacity to successfully send small satellites to space.
With a decade of history, PLD Space plans to launch its MIURA 1 prototype in the second half of 2022 and tackle its first real space transport mission with MIURA 5 in 2024. The firm, based in Elche (Alicante) and with technical facilities in Teruel, Huelva and French Guiana, has already achieved more than $50 million of investment to drive forward its project in the space sector.
About the transaction
PLD Space, lthe Spanish company that leads the space launch business for small satellites in Europe, has just closed a Series B funding round of $28 million. The operation, led by BlueBull Partners, has had the accompaniment of previous company shareholders, who have been able to strengthen their participation, and the entry of new strategic financial partners. BlueBull, the Tech-focused Financial Advisory firm, has served as financial advisor to the round.
This operation, which brings the total capital raised by PLD Space to more than $50 million, will allow the company to advance in its upcoming milestones of value: the launch of its MIURA 1 suborbital rocket at the end of 2022 from El Arenosillo (Huelva), MIURA 5 orbital vehicle manufacturing and its launch in 2024 from French Guiana. Strategic advances that involve the expansion of the company's productive capacities, as well as its human team. In fact, the firm expects to increase its workforce up to 200 employees in 2022 and triple its size in the next three years.
With this financial operation, PLD Space closes the second tranche of Series B round in equity, oversubscribing its initial funding target. In this phase, the company has had the accompaniment of its current partners, especially Aciturri, reinforcing its position, as well as the entry of different financial partners. In addition, the company, based in Elche (Alicante), has maintained the interest of both private investors and public institutions. This is the case of CDTI, which has consolidated its position in PLD Space with an additional investment commitment of more than $2.9 million.