CDH leads Series A for Chinese commercial rocket launch player

The company has raised around RMB700 million ($101.9 million) to date and claims to be the best funded private aerospace start-up in China. The State Administration for Science, Technology & Industry for National Defense and CITIC Group backed its seed round.

According to a statement, the fresh capital will go toward developing rocket launch vehicles and liquid oxygen-methane propellant engine systems, as well as enhancing the R&D team and building rocket launch facilities.

Founded in 2016, iSpace develops small-sized commercial rockets and provides related launch services. Its first self-developed solid rocket will be launched this year, with two more expected to be launched in the next two years.

Private space companies have proliferated globally since 2010, when US-based SpaceX began conducting the first private launches and orbital maneuvers. Activity in China began in 2014, when the government formally allowed private companies to provide satellite launch services.

Other players in this sector include Beijing-based LandSpace, which secured RMB300 million in an extended Series B round led by China Growth Capital in November, and Chongqing-based OneSpace, which launched China’s first commercial rocket in May last year and has received three rounds of funding.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Industrials
• Early-stage
• China
• Infrastructure
• CDH Investments Management
• Matrix Partners