Chinese Space Tech Company LandSpace Raises $71 Million in Series C Funding
LandSpace, a Beijing-based private space launch company founded by Tsinghua University, completed its Series C round of financing to the tune of $71 million. The company will use the new capital injection towards the development and launch preparation of their Zhuque-2 liquid-fuelled rocket, and further research and development into reusable rocket technology.
SEE ALSO: Chinese Private Rocket Firm LandSpace Tested Rocket Engine for Reusable Rockets
Country Garden Venture Partners, the organization that led the financing, had its Managing Partner and Chief Risk Officer Shen Yan weigh in on the future of rocket technology, “We have conducted a long-term in-depth investigation on the future trends of commercial rockets. Medium and large-scale liquid rockets with high demand, high yields and high barriers are the circuits we are optimistic about. It is also a key choice for private rocket companies to form a competitive advantage and achieve a differentiated development path.”
From May to November 2019, LandSpace successfully completed the full-system thermal test of the “Teana” family 80 + 10 two-type liquid oxygen methane rocket engine. This milestone marks a major breakthrough in core technology development for the company.
The next big project for LandSpace is the launch of their Zhuque-2 rocket, which is China’s first medium and large-scale liquid oxygen methane rocket. The main features of the Zhuque-2 are its high reliability and low cost.
LandSpace was established in 2015 and has been a leader in China’s developing aerospace industry, driving the innovation of liquid rockets.
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