German space launch startup Rocket Factory Augsburg (RFA) announced on Monday that it had received a €30-million investment from US-based global investment company KKR. This meant that KKR had joined the German OHB group as a major investor in the startup.

RFA successfully conducted a hot test fire of its upper stage rocket in May. This was the first test of its kind in Europe. In June, it successfully hot fired this engine again, for the duration of an entire flight.

“We aim to provide cost-effective access to space and data-generating business models in space for monitoring, connecting, and protecting our planet,” highlighted RFA CEO Stefan Tweraser. “This new financing reflects confidence in RFA and validates our cost-efficient approach and technical achievements. Partnering with KKR as a long-term investor makes us proud – their financial resources, global network and industrial expertise will accelerate our mission, and support RFA towards our first launch next year and beyond.”

The KKR investment would assist with RFA’s near-future test of its first stage rocket, and with the completion of the startup’s launch pad, at the Saxa Vord Spaceport in Scotland, in the UK. The two stages will form the RFA ONE “microlauncher”, as the company describes it. The first flight of RFA ONE is scheduled for the second quarter of next year.

“KKR is excited to support RFA in its efforts to revolutionise access to space, which is crucial for emerging technologies that will shape our future,” affirmed KKR Germany, Austria and Switzerland region partner and head Christian Ollig. “The team’s exceptional track record of achieving technical milestones and their unwavering focus on cost leadership are precisely the right strategy for future success in the global marketplace. We look forward to supporting RFA on its growth path.”

RFA was set up in 2018 with the aim of supplying launch services for payloads of up to 1 300 kg, into low Earth orbit and higher, on a weekly basis, at very competitive rates.