Commercial Satellite Company Space Trek Secures Financing
On Tuesday, Beijing Space Trek Technology Co., Ltd. announced it had recently secured new financing worth tens of millions of yuan. Investors include Weifang Hangdong Aerospace Investment Partnership and Zibo Zhongshu Yunzhi Investment.
Space Trek has received investment from many well-known Chinese VCs and strategic partners such as 10Fund, Qixi Venture Management Partnership, Xinxing Capital, Guosen H&S and Tongfang Investment.
The funds are for the development of a liquid launch rocket system and Changfeng Type target missiles, including layout of an industrial chain and the expansion of the company’s technical teams.
Since its establishment, Space Trek has taken the mission of “improving the efficiency of space entry and contributing to space power”, and is committed to the development of innovative and efficient space vehicles, serial target missiles of all types, aircraft design and development, as well as technical services.
Its core team members are technical specialists who have previously worked for the army, China Aerospace Science and Technology Corporation, China Aerospace Science and Industry Corporation Limited, and other institutions. Space Trek has all the important core competencies required for the development of national defense equipment.
SEE ALSO: Chinese Commercial Rocket Firm Galactic Energy Completes Financing of 1.27 Billion Yuan
The company has already completed the first flight of the “Discovery 1” suborbital carrier rocket and the “D140” supersonic cruise target missile. The flight test of D140 Y2 is being deployed in an orderly and tight manner, and the flight test will be completed in the near future.
According to data released by Zhihuiya, Space Trek now owns more than 40 patent applications, more than 95% of which are invention patents. Most patents are related to aircraft and payload fairing.
