iSpace raised nearly 1.2 billion yuan ($172 million), setting a new record for a single round of funding in China's commercial space field.
JD-1, a reusable liquid oxygen-methane engine independently developed by Chinese aerospace manufacturer iSpace, successfully passed a 200-second continuous variable thrust long-range test run on July 8, 2020.
A 15-tonne oxygen rich methane-fueled rocket engine by Chinese aerospace manufacturer iSpace completed a long-range 500-second test in Beijing on December 25.
On Sept. 5, at 1 p.m. local time, China's commercial rocket startup iSpace launched a sub-orbital rocket into space from the Jiuquan Satellite Launch Center in Xi'an, Shaanxi Province. The successful launch signals the dawn of an era where additional private space companies are authorized to conduct launches.