German rocket manufacturer Isar Aerospace successfully reached orbit for the first time over the weekend, marking a major milestone for Europe’s commercial space industry as the company prepares to increase launch frequency to meet what it describes as growing demand.

The Munich-based company’s Spectrum rocket reached low Earth orbit on Saturday and successfully deployed its payloads, achieving the feat on just its second test flight.

The startup did not immediately disclose how much of the figure was backed by contracted orders.

Following Saturday’s successful flight, Isar Aerospace is focused on scaling up production and increasing its launch frequency, the Chief Commercial Officer Stella Guillen said.

However, he warned that Europe would need to expand its launch infrastructure to keep pace with the industry’s growth.

Although Isar’s operations remain significantly smaller than those of US rivals such as Elon Musk’s SpaceX, the company has ambitious plans for expansion.

The privately owned Munich-based company has secured investments from major backers, including Porsche, venture capital firms Lakestar and HV Capital, as well as the NATO Innovation Fund.

In June, Isar raised €270 million in a Series D funding round to scale up production and expand its global launch network.

Isar Aerospace is regarded as one of Europe’s most promising space startups as the region seeks to develop a homegrown commercial launch industry capable of competing with US-based SpaceX.