Beijing Interstellar Glory (i-space) Raises $173.6 Million Series B Round

Translated from Chinese by Google Translate

BEIJING (i-space PR) — On August 25, 2020, Beijing Interstellar Glory Space Technology Co., Ltd. [i-space] announced the completion of RMB 1,192.5 million [$173.57 million] in Series B round financing.

This round of financing was led by the Beijing Financial Street Capital Operation Center, including CICC Jiazi, Guanghe Xincheng, Taizhonghe Investment, Sequoia Capital China Fund, CITIC Securities, China Merchants Securities, Xuanshi Tiancheng, Shanghai Science and Technology Fund, Yinshengtai Capital, Linglong Jinshan Equity Investment, Yaxiang Xingtai, Kailian Capital, Zhuhai Shunlian, and Nanping Baiyi. Existing shareholders Jingwei China, CDH Investment, and Ganquan Capital continued to participate in the investment. 

This round of financing will be mainly used for the development of the Hyperbola series of launch vehicles, the development of the Focus series of reusable liquid oxygen methane engines, the construction of facilities, and the training of talent.

Interstellar Glory is a leading domestic commercial aerospace company with the mission of expanding humans living space. 

Since its establishment, Interstellar Glory has always adhered to the technological development path of “from solid to liquid, from small to large” (solid-powered rockets to liquid-powered rockets, and mall launch vehicles to medium and large launch vehicles).

Since the last round of financing, progress has been made in the research and development of solid launch vehicles and liquid reusable launch vehicles.

In terms of solid fuel launch vehicles, on July 25, 2019, Interstellar Glory successfully completed the launch of the Hyperbola One launch vehicle at the Jiuquan Satellite Launch Center. The model’s first flight sent the payload into the predetermined orbit with extremely high precision, becoming the first [civilian-operated carrier launch] in China.

Regarding liquid reusable launch vehicles, the Focus One reusable liquid oxygen methane engine independently researched and developed by Interstellar Honor has successively completed a series of important ground tests, such as full-system long-range trials, secondary start trials, and large-scale continuous variable thrust trials. The tests lay the foundation for the successful launch of the Hyperbola-2 reusable launch vehicle.

In the future, Interstellar Glory will continue to carry out commercial launches of the small solid launch vehicle Hyperbola 1, the small liquid reusable launch vehicle Hyperbola 2, and the medium liquid reusable launch vehicle Hyperbola 3.

The company plans to conduct a 100-kilometer-level vertical take-off and landing test of the first sub-class of Hyperbola 2 in 2021, and perform the first flight and first-class vertical recovery mission of the first flight of the hyperbola 2 in the same year.

In April this year, the National Development and Reform Commission first clarified the scope of “new infrastructure.”  Satellite Internet was incorporated into the communications network infrastructure along with 5G, Internet of Things, and Industrial Internet, and the low-orbit satellite Internet entered a stage of rapid development. As the only means of transportation for carrying satellites and other payloads into orbit, launch vehicles have a broad market space. 

In this context, Interstellar Glory will continue to lay a solid foundation in the field of private commercial aerospace, and actively explore the market space for large-scale space applications such as suborbital travel, commercial space station construction, and deep space exploration.

About Beijing Interstellar Glory

Beijing Interstellar Glory Space Technology Co., Ltd. (abbreviated as “Interstellar Glory”) is committed to researching and developing excellent commercial launch vehicles and providing systematic launch solutions to provide global commercial aerospace customers with more efficient, better quality and more cost-effective launch services. In order to greatly enhance the ability of human beings to freely enter and exit space. Interstellar Glory has a team with extremely professional experience and creativity. The staff includes elites in many fields such as technology research and development, business management, consulting and consulting. It has strong comprehensive strength and aspires to make a big difference in the field of commercial aerospace. The company focuses on the research and development of high-quality, low-cost, and fast-response intelligent launch vehicle products, and provides integrated commercial launch services for global satellite and constellation customers.