The Porsche dynasty is taking over Jeff Bezos and Elon Musk in area

The company, controlled by the related Porsche and Piëch families that turned Volkswagen into a global powerhouse, on Wednesday unveiled an investment into Germany’s Isar Aerospace, a space startup attempting to rival Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX with rocket production and satellite launch services.

While Blue Origin and SpaceX are backed by billionaires and already racing ahead with manned space missions, Isar Aerospace believes it can compete in the growing market for launching small satellites into Earth’s orbit. It’s planning its first test flight for next year.

Porsche SE is investing alongside venture capital company HV Capital and Swiss bank Lombard Odier to inject $75 million into the company, as part of a $165 million funding round that includes existing investors. Porsche SE said it would receive a “a low single-digit percentage stake.”

“The funding will allow Isar Aerospace to further invest in its launch, testing, and manufacturing infrastructure for…

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