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.

by Douglas Messier
Managing Editor

iSpace, aka, Beijing Interstellar Glory Space Technology Ltd., has become the first private Chinese company to launch payloads into orbit.

The company launched its four-stage Hypobola-1 rocket from the Jiuquan Satellite Launch Center in the Gobi Desert on Thursday afternoon local time.

iSpace reported the rocket deployed the CAS-7B amateur radio satellite and a technology verification satellite for China Central Television. Three additional payloads remained attached to the upper stage as planned.