Isar Aerospace Raises $91 Million

Munich-based Isar Aerospace has raised 75 million euros ($91 million) from investors to further development of its Spectrum small-satellite launch vehicle.

Swiss venture fund Lakestar led the Series B round with the participation of existing backers Airbus Ventures, Earlybird, Vsquared Ventures and former SpaceX executive Bulent Altan.

Spectrum is a two-stage vehicle designed to lift up to 1,000 kg (2,204 lb) into low Earth orbit. It will be equipped with a multi-ignition second stage engine that will provide flexibility in delivering payloads to precise orbits. Isar is designing the vehicle with satellite constellations in mind.