PLD Space
PLD Space (Payload Aerospace S.
- Founded
- 2011
- Headquarters
- Elche, Spain
- Stage
- Growth
- Ownership
- Private
- Total raised
- €488M
- Last round
- Series C · €108M2026-09
- Investors
- 1
Quick Facts
About PLD Space
PLD Space (Payload Aerospace S.L.) is a Spanish launch company founded in 2011 in Elche, developing partially-reusable launch vehicles Miura 1 and Miura 5. Miura 1, a suborbital sounding rocket for microgravity research and technology development, successfully launched on October 7, 2023, serving as the technological demonstrator for the orbital Miura 5. The Miura 5 small launch vehicle can place approximately 500 kg into sun-synchronous orbit. PLD Space is targeting the first Miura 5 launch from the Guiana Space Centre in 2026, with an ESA European Launcher Challenge contract setting an orbital deadline of end-2027.
The company expects to produce one TEPREL-C rocket engine every two weeks by end of 2025. PLD Space raised €488 million in total by September 2026, including a €288 million Series C in 2026. Beyond Miura 5, PLD Space revealed a family of next-generation larger rockets and the Lince crew capsule. In cargo configuration, Lince can carry 5,000 kg to ISS and return 3,400 kg; when carrying crew, it supports four or five astronauts. PLD Space aims to achieve 30 launches annually by 2030.
Products and product lines
| Product | Line | Note |
|---|---|---|
| Miura 1 | Suborbital rocket | Recoverable suborbital vehicle that flew once, on 7 October 2023, reaching a 46 km apogee carrying a ZARM (Germany) microgravity payload; served as the technology demonstrator for Miura 5. |
| Miura 5 | Orbital launch vehicle | Partially reusable small-lift rocket (two TEPREL-C-powered stages, LOX/RP-1) targeting 540 kg to sun-synchronous orbit from the Guiana Space Centre; first orbital flight expected later in 2026 after schedule slips from an earlier Q1 2026 target. |
| TEPREL-C | Rocket engine | LOX/RP-1 engine powering Miura 5 (5 engines on the first stage, 1 vacuum-optimized engine on the second); PLD Space has targeted production of one engine every two weeks by the end of 2025. |
| Miura Next | Launch vehicle family (in development) | Proposed medium-to-heavy-lift family unveiled in October 2024, with baseline, Heavy and Super Heavy variants (up to 53,000 kg to ISS-like orbit); first launch targeted for 2030. |
| Lince | Crew/cargo capsule (in development) | Capsule for 4-5 astronauts or, in cargo mode, 5,000 kg to the ISS (3,400 kg return); parachute drop testing planned from 2025, with a targeted first uncrewed orbital flight in 2030. |
| European Launcher Challenge award | Institutional funding/contract | ESA awarded PLD Space €158.9 million on 27 August 2026 to help commercialize and scale Miura 5 and develop propulsive-landing upgrades, contingent on reaching orbit by the end of 2027. |
Timeline
- 2011 PLD Space (Payload Aerospace S.L.) is founded in Elche by Raúl Torres, Raúl Verdú and José E. Martínez. [source]
- 2023 Miura 1 flies its only suborbital mission on 7 October, reaching 46 km and validating recovery and microgravity-payload systems ahead of Miura 5. [source]
- 2024 PLD Space unveils its Miura Next launcher family and the Lince crewed/cargo capsule at an event in Elche on 7 October. [source]
- 2026 PLD Space closes a €180 million ($209 million) Series C round on 5 March, led by Mitsubishi Electric with participation from Spain's CDTI/COFIDES and Nazca Capital, taking cumulative funding past €350 million. [source]
- 2026 PLD Space secures a €30 million venture debt loan from the European Investment Bank in April to finish developing Miura 5. [source]
- 2026 ESA awards PLD Space a €158.9 million European Launcher Challenge contract on 27 August to scale Miura 5's commercial service and fund propulsive-landing development, requiring an orbital launch by end of 2027. [source]
- 2026 PLD Space extends its Series C round by a further €108 million on 1 September, bringing the round to €288 million and cumulative funding raised to €488 million. [source]
Raúl Torres (CEO, Co-founder)
Funding history
2 events · €488M raised| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2026-09-01 | Series C | €108M | —Series C extension of €108 million on 1 September 2026, taking the round to €288 million and cumulative funding to €488 million. | globalbankingandfinance.com |
| 2026-03-05 | Series C | €180M | Mitsubishi ElectricSeries C of €180 million (09 million) led by Mitsubishi Electric, closed 5 March 2026. | spaceflightnow.com |
Investors
From the sourced rounds above. Investors with two or more deals in the directory link to a portfolio page.
Team
Raúl Torres (CEO, Co-founder)
Signals
- Verification
- Verified 2026-09-09
Categories & Capabilities
Industry Categories
Vehicle Types
Propulsion Systems
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Frequently asked about PLD Space
Quick answers to the questions readers most often search for.
- When was PLD Space founded?
- PLD Space was founded in 2011 in Spain.
- Where is PLD Space headquartered?
- PLD Space is headquartered in Elche, Spain.
- What does PLD Space do?
- PLD Space (Payload Aerospace S.L.) is a Spanish launch company founded in 2011 in Elche, developing partially-reusable launch vehicles Miura 1 and Miura 5. Miura 1, a suborbital sounding rocket for microgravity research and technology development, successfully launched on October 7, 2023, serving as the technological d…
- Is PLD Space a public or private company?
- PLD Space is a privately held company and is not listed on any stock exchange.
- What sector does PLD Space operate in?
- PLD Space works in launch services.
Sources
The structured fields on this page (founding year, location, sector, status, listing) and the profile text are drawn from the sources below. How profiles are drafted and checked is described in our methodology.
- Official website (pldspace.com)
- Company LinkedIn page
- Wikidata / Wikipedia · retrieved 2026-09-04
- Wikipedia: Miura 1 · retrieved 2026-09-06
- Wikipedia: Miura 5 · retrieved 2026-09-06
- SpaceNews: PLD Space unveils plans for larger launch vehicles and crewed spacecraft (7 Oct 2024) · retrieved 2026-09-06
- Spaceflight Now: PLD Space raises $209 million Series C (5 Mar 2026) · retrieved 2026-09-06
- ESA: First contracts kick off European Launcher Challenge (27 Aug 2026) · retrieved 2026-09-06
- Global Banking & Finance: PLD Space adds €108M to Series C (1 Sep 2026) · retrieved 2026-09-06
Data Accuracy Notice: Information about PLD Space is compiled from publicly available sources including company websites, press releases, regulatory filings, and industry reports. Data is reviewed periodically but may not reflect the most recent developments.