
Orienspace, a private rocket developer in China, has raised approximately 600 million yuan ($83.67 million) for its rocket development endeavours. The funding, which values Orienspace at around 6 billion yuan, involves new investors such as Liangxi Science and Technology Innovation Industry Fund of Funds and Shenyin & Wanguo Investment, along with existing shareholders like HIKE Capital. The capital will be utilized to support the research and production of an in-house liquid oxygen and kerosene-based rocket engine, as well as the development of the reusable Gravity-2 rocket. Orienspace aims to debut the Gravity-2 launch within approximately two years. The company, established in 2020, recently launched its Gravity-1 rocket, which employs solid materials for thrust. The funding reflects the growing interest and investment in China's private rocket sector, driven by the expanding demand for commercial satellite launches. Investors anticipate that the competition to establish satellite constellations, akin to Elon Musk's Starlink, will drive demand for rocket launch services in China's commercial space industry.
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