Isar Aerospace announced raising €75 million in a series B round led by Lakestar and including Earlybird and Vsquared Ventures.

Isar Aerospace, a Munich, Germany-based producer of space vehicles, announced that it secured a funding round of €75 million ($91M).

The money was raised from investors led by Lakestar and included contributions from Earlybird and Vsquared Ventures. The deal values the company at €300 million ($364M) and proceeds will be used to complete their rocket and manage the first launches.

Isar Aerospace, founded in 2018 as a University of Munich spinoff by CEO Daniel Metzler, Josef Fleischmann and Markus Brandl, is working for the development of low-cost launch vehicles dedicated to deploying and resupplying satellite constellations. The company previously raised $17 million in 2019.