https://techcrunch.com/2020/08/25/chinese-commercial-launch-startup-ispace-raises-172-million/

The private launch industry isn’t showing any signs of slowing down, and a new $172 million Series B round of funding for China commercial launch startup iSpace indicates it could be heating up internationally. The new funding was led by Beijing Financial Street Capital Operation Center, CICC Alpha, Taizhonghe Capital and includes participation from existing shareholders.

The funding will primarily go towards development of iSpace’s planned ‘Hyperbola’ space launch vehicle. The first of these sent satellites into space last July, making iSpace the first private Chinese launch company to mark that achievement. A larger rocket, called Hyperbola-2, is currently in development, and iSpace intends for the first-stage booster of that vehicle to be fully reusable, with vertical landing capabilities similar to those of SpaceX’s Falcon 9.