iSpace has secured Series D funding to advance the Hyperbola-3 rocket development, targeting its first orbital launch in December. The investment will facilitate the construction of facilities in Sichuan Province and further enhances China’s commercial launch capabilities. Government support underscores the growth of the space industry in the region.

Beijing Interstellar Glory Space Technology Ltd., known as iSpace, has successfully secured a Series D funding round worth several hundred million yuan, as announced on March 11. This round was led by Sichuan Tianfu Xinyun Digital Economy Development Fund, a managed provincial industrial investment fund, enabling the company to enhance its development of the Hyperbola-3 reusable rocket.

In summary, iSpace’s recent funding solidifies its position in the competitive commercial launch sector as it prepares to unveil the Hyperbola-3 rocket with ambitious plans for orbital launch and recovery. The backing of provincial funds signifies strong governmental support for the growth of local space enterprises. With the anticipated developments, iSpace aims to affirm its capabilities in rapid and economical space access, adhering to China’s strategic goals in the commercial space domain.

Original Source: spacenews.com

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