Chinese commercial rocket company i-Space completes first tranche of nearly RMB1 billion Series E funding

Chinese commercial rocket company Beijing Interstellar Glory, also known as i-Space, has completed the first tranche of a Series E funding round worth nearly RMB1 billion. The investors are mainly bank-affiliated asset-management institutions, while the broader round remains under way. The funding will support R&D and batch production of the Hyperbola-3 reusable rocket, construction of capacity for the Focus-2 liquid-oxygen methane engine, launch and sea-recovery support, and preliminary work on heavy-lift launch-vehicle technology. [Jiemian, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

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