PLD Space strengthens funding for next-gen European launcher
Spanish launch startup PLD Space has secured a €30 million loan from the European Investment Bank (EIB), giving the company fresh momentum as it advances toward a key test flight of its reusable MIURA 5 orbital rocket.
The new financing complements previous public and private backing and is aimed at accelerating development, qualification and early flight campaigns of MIURA 5, a small satellite launch vehicle designed to serve the fast-growing commercial space and NewSpace markets from European soil.
From MIURA 1 to MIURA 5
PLD Space, headquartered in Elche, Spain, has already demonstrated suborbital capability with its MIURA 1 rocket, positioning the company as one of Europe’s leading privately funded launch providers. The upcoming MIURA 5 aims to offer dedicated access to orbit for small satellites, constellations and institutional missions seeking European-controlled launch options.
The EIB loan is expected to support critical work on propulsion systems, avionics, ground infrastructure and the reusable first stage, all central to cost-efficient launch services. The funding also reinforces Europe’s strategic push to reduce dependence on non-European launchers amid rising demand for space-based services, including Earth observation, telecommunications and IoT connectivity.
Boost for European space autonomy
By backing PLD Space, the EIB is signaling confidence in private European launch startups as key contributors to the continent’s long-term space autonomy. The investment aligns with broader EU objectives to foster a competitive ecosystem in micro-launchers and space-tech innovation.
With the additional €30 million, PLD Space plans to intensify testing, expand its engineering team and prepare for the first full-scale MIURA 5 test flight. If successful, the vehicle could become a cornerstone of Europe’s small satellite launch capability, offering more frequent, flexible and independent access to orbit for both commercial and institutional customers.