https://spacenews.com/chinese-space-launch-firm-landspace-raises-71-million/
Landspace's new manufacturing facility under construction in Huzhou, China.
Chinese space launch firm Landspace raises $71 million
Chinese launch provider Landspace raises new funding while satellite firms see successful missions and Galaxy Space set for 5G satellite launch.
HELSINKI — Private Chinese space launch firm Landspace has raised $71 million in series C round funding to be used for the development of a new launch vehicle.
The new round of funding was led by Country Garden Venture Capital. It takes the total raised by Landspace in 2019 to $85 million (600 million yuan).
The new funding will be mainly used for the development of the two-stage Zhuque-2 (Vermillion Bird-2) medium-lift launch vehicle.
The new launcher is powered by liquid methane-liquid oxygen rocket engines. It will measure 48.8 meters tall with a diameter of 3.35 meters. A test flight is scheduled for 2021.
Zhuque-2 will be capable of delivering a 4,000-kilogram payload capacity to a 200-kilometer low Earth orbit and 2,000 kilograms to 500-kilometer Sun-synchronous orbit. The funding will also go towards verification of reusable rocket technology.
Landspace carried out tests of the two methalox engines powering the Zhuque-2 during the summer. A
full-system hot fire test of the TQ-11, a 10-ton thrust engine for the Zhuque-2 second stage, was carried out Nov. 30. A successful 100-second test of the larger TQ-12 80-ton thrust engine for the first stage was performed during the summer.
As well as making progress on the launcher, Landspace has been moving forward with securing contracts.
Last week Landspace
signed a contract with Spacety, a Changsha-based private satellite firm, for Zhuque-2 launch services. In April Landspace reached agreements with UK-based Open Cosmos and D-Orbit of Italy related to Zhuque-2.
The company earlier this year also secured about $14 million in a series B+ funding round from Shanghai Yi Sheng Investment, Luxin Venture Capital and others.