Rocket Factory Augsburg (RFA) – Successful Financing of a Rocket Startup with Over 40 Million Euros in Total Volume
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Operating in a capital-intensive deep-tech industry with strict regulatory requirements, RFA faced the challenge of crafting a compelling financial and investor narrative for both national and international backers. Beyond showcasing technological excellence, the company specifically needed to sharpen and structure its capital market strategy to sustainably finance its growth, ongoing development, and upcoming maiden flight.
Initial Situation
Rocket Factory Augsburg (RFA), founded in 2018 and part of OHB SE, is one of Germany’s leading New Space companies. With its "RFA One" microlauncher, the company aims to deliver small satellites into orbit cost-efficiently.
Operating in a capital-intensive deep-tech industry with strict regulatory requirements, RFA faced the challenge of crafting a compelling financial and investor narrative for both national and international backers. Beyond showcasing technological excellence, the company specifically needed to sharpen and structure its capital market strategy to sustainably finance its growth, ongoing development, and upcoming maiden flight.
Objectives
The goal was to develop a comprehensive, investor-ready narrative that:
- Clearly positions RFA's technological leadership.
- Financially underpins the development roadmap for the "RFA One" microlauncher.
- Targets international investors.
- Structurally integrates various financing instruments.
- Strategically prepares the company for larger funding rounds.
Roemer Capital, together with the Axel Springer Consulting Group (hy), was actively involved in developing this business and financial narrative.
Approach
In close collaboration with RFA's management, the following measures were implemented within a few months:
- Creation of an institutional business plan, including a robust financial model and company valuation.
- Development of an investor-ready pitch deck with a clear equity story.
- Structuring of an angel round, including investor outreach.
- Strategic positioning within the European space context.
- Preparation for larger institutional funding rounds.
Lucas Roemer was closely involved in the process, both operationally and strategically. He acted as an equal sparring partner, focusing on document preparation (business plan & financial model), storytelling, capital structure, and investor logic.
Results
- Within approximately 4.5 months, 2.5 million euros were raised from over 20 angel investors.
- An additional single-digit million amount was secured in a subsequent funding round, with some first-round investors choosing to reinvest.
- In Q4 2023, the US financial investor KKR invested 30 million euros in Rocket Factory Augsburg. This investment significantly supports the development and preparation for the maiden flight of "RFA One."
- Concurrently, KKR's investment in the parent company, OHB SE, strengthened RFA's strategic position in the European space sector.
- Despite a setback caused by a rocket explosion during a test in August 2024, RFA received its launch license from the UK Civil Aviation Authority (CAA) in early 2025—a crucial milestone on the path to its inaugural orbital flight in Europe.
Impact
Through this structured capital market strategy and professionally prepared investor documents, RFA was able to:
- Secure significant international growth capital.
- Attract top-tier institutional investors.
- Accelerate the development of the microlauncher.
- Achieve key regulatory milestones.
- Position itself as a technologically leading New Space company in Europe.
Ultimately, the financing structure did more than just provide an influx of capital; it established a strategic foundation for scaling, partnerships, and long-term competitiveness in the global space market.
FAQs
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