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Chinese commercial rocket company i-Space completes first tranche of nearly RMB1billion Series E funding
Beijing Interstellar Glory (i-Space) has secured the first part of its Series E funding round, amounting to nearly RMB 1 billion, primarily from bank-affiliated asset-management institutions. This funding will enhance R&D for the Hyperbola-3 rocket and Focus-2 engine, as well as support heavy-lift launch vehicle technology.
Key points
- i-Space completed initial Series E funding of nearly RMB 1 billion.
- Major investors include bank-affiliated asset-management institutions.
- Funding will be used for R&D and production of Hyperbola-3 rocket.
- Construction for Focus-2 liquid-oxygen methane engine capacity will be supported.
- Funding aids launch and sea-recovery operations.
- Preliminary work for heavy-lift launch vehicle technology is also included.
Why it matters
- The funding reflects a growing trend in private space exploration in China.
- In 2025, the demand for reusable launch vehicles and sustainable fuels is anticipated to elevate.
- The move aligns with increasing global interest in commercial space endeavors following successful missions by SpaceX and others.
i-Space's substantial Series E funding highlights the growing Chinese market for commercial space exploration and sets the stage for advancements in rocket technology, reflecting broader trends in the aerospace sector.