Chinese Rocket Firm i-Space Completes First Tranche of Nearly RMB1 Billion Funding
Chinese commercial rocket company i-Space has completed the first tranche of its Series E funding round, securing nearly RMB1 billion. The funds are designated for research and development and production capabilities.
Beijing Interstellar Glory, known commercially as i-Space, has announced the completion of the first tranche of its Series E funding round, raising close to RMB1 billion.
The current group of investors primarily consists of asset management institutions affiliated with banks. The broader funding round remains open for additional participants.
These newly acquired funds are earmarked to bolster the company's research and development efforts and establish batch production capabilities for its Hyperbola-3 reusable rocket. The investment will also support the development of the Focus-2 liquid-oxygen methane engine, launch and sea-recovery operations, and initial work on heavy-lift launch vehicle technology.