China’s Billionhome leads $14m round for space tech player

Billionhome, also known as Guangdong Bilin Equity Investment, was founded in 2010, combining a Beijing-based home financing business and a Guandong-based investment business. It is active across private equity, venture, and pre-IPO markets with a focus on technology and hands-on management.  

The investment in Mino Space has been supported by a number of undisclosed existing investors. The start-up has previously received investment from Kexin Venture Capital, Shenzhen Capital, Yonghua Capital, Amphora Capital, CPG Capital Partners, X Capital, Essential Capital, and state-owned China Aerospace Science & Industry, the largest domestic satellite manufacturer.

Mino Space develops on-board and ground station equipment for satellite developers. Its technology was incorporated into four successfully launched satellites last year. The company has traditionally focused on platforms relevant to microsatellites known as cubesats but has increasingly moved into larger units. Participation in several new launches is planned for later this year, according to a statement.

The increasing commercialization and fragmentation of the space sector globally has resulted in a unique public-private ecosystem in China. Mino Space, for example, has leveraged support not only from China Aerospace Science & Industry but also CAS Star Venture Incubator, a unit of the state-run Chinese Academy of Science. This backdrop has underpinned a mix of optimism and concern about market-readiness during a boom for local space tech start-ups.  

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• Topics
• Greater China
• Technology
• Early-stage
• China
• space