Polaris reaches €7.1 million in private funding for spaceplane development

Polaris SpacePlanes (Bremen), a German aerospace startup developing a novel reusable space launch and hypersonic transport system, has received an investment from Dienes Holding (Kaiserslautern) businessman and investor Klaus Dienes. This is Polaris’ largest investment to date, with private funding reaching a total of €7.1 million.

Dienes is involved in various companies in industry and other sectors, including startups, and serves as an advisory board member of several entities. He says he has invested in Polaris to capture the commercialization potential in the spaceflight and defense markets. He is convinced that the composites-intensive products and technologies under development at Polaris (read “Polaris Spaceplanes receives MIRA II, MIRA III fiberglass airframes”) serve these growing markets.

As part of his investment, Dienes will also become member of the advisory board at Polaris. Beyond his present investment, he will provide ongoing strategic and financial support. He joins existing investors Polaris Space Ventures, Mittelständische Beteiligungsgesellschaft Bremen, E2MC Ventures, Kupke GmbH as well as four private individuals.

Polaris reports that it will use the funds for the development of the supersonic prototype Nova and to execute on large customer contracts, in advance of a large funding round in 2025.