Polaris SpacePlanes raised €7.1 million in private funding led by Klaus Dienes to develop the supersonic prototype Nova and execute on large customer contracts.

Sep 20, 2024•10 months ago

Amount Raised

€7.1 Million

BremenAerospaceManufacturing

Investors

Kupke Gmb HE2 Mc VenturesMittelständische Beteiligungsgesellschaft BremenPolaris Space VenturesKlaus Dienes

Description

Polaris SpacePlanes has received its largest investment to date, totaling €7.1 million from businessman Klaus Dienes. The funding will be utilized for the development of the supersonic prototype Nova and to fulfill large customer contracts.

Company Information

Company

Polaris SpacePlanes

Location

Bremen, Bremen, Germany

About

Polaris SpacePlanes is a German aerospace startup focused on developing a novel reusable space launch and hypersonic transport system. The company aims to innovate in spaceflight and defense markets, utilizing composites-intensive products and technologies. Polaris seeks to capture commercialization potential in these sectors through its ongoing development efforts. With significant investments, Polaris is advancing toward producing a supersonic prototype and fulfilling large customer contracts.

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Funding Insights

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers