ATEL Ventures

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Isar Secure $20M in Growth Debt from US-based ATEL Ventures

๐Ÿ“… Date:

๐Ÿ”– Topics: Funding Event

๐Ÿข Organizations: Isar Aerospace, ATEL Ventures

German launch provider Isar Aerospace has secured $20 million (โ‚ฌ18.39 million) in growth debt from California-based ATEL Ventures.

Munich-based Isar Aerospace is developing its two-stage Spectrum rocket, which is designed to deliver payloads of up to 1,000 kilograms to low Earth orbit. According to reporting from industry consulting firm Euroconsult, the company is also planning a larger version of the rocket, currently being referred to as Spectrum 2. This larger vehicle will be capable of delivering up to 4,000 kilograms to low Earth orbit.

ATEL Ventures announced the completion of the growth debt agreement with Isar on 4 June, stating that the company would use the facility to purchase โ€œstate-of-the-art equipment used in the production of its launch vehicles.โ€ ATELโ€™s deal with Isar is not its first foray into the launch market, having previously invested in a US-based launch startup, Stoke Space.

Read more at European Space Flight