The Porsche dynasty is taking on Jeff Bezos and Elon Musk in space
Porsche SE is the next big investor to look to space for its role in developing future technology. Porsche revealed an investment into German Isar Aerospace on Wednesday. The German space startup is attempting to rival Jeff Bezo’s Blue Origin and Elon Musk’s SpaceX. The startup offers rocket production and satellite launch services.
Isar Aerospace believes it can compete in the market for launching small satellites into orbit, the first test flight is planned for next year. Porsche SE is contributing $75 million into a $165 million funding round alongside HV Capital and Swiss bank Lombard Odier. Isar Aerospace and other space technology companies are responding to the increase in commercial demand for the launch of small satellites that is expected in the coming years. The startup expects the global space launch services market to increase over $30 billion by 2027, a third of which is expected to stem from the deployment of small and medium sized satellites.