Chinese commercial aerospace startup Emposat has closed its Series B and C funding rounds. Separately, extended reality (XR) developer OPTIX has completed a pre-Series A round led by Primavera Venture Partners.
Commercial aerospace startup Emposat raises $70.5m
Beijing-based commercial aerospace startup Emposat has secured almost 500 million yuan ($70.5 million) in its Series B and C funding rounds to invest in technological development and ground infrastructures, the startup announced.
Digital economy-focused state capital investor in southwestern China’s Chongqing City led its Series B round, while another Chinese state-backed firm Zhongshan Investment Holdings led the Series C round. CICC Capital, the alternative investment arm of state-owned China International Capital Corp (CICC), participated in the round.
Existing shareholders Essential Capital, Jundu Investment, Zero2IPO Capital, and Huge Capital, invested in the new rounds.
Founded in 2016, Emposat offers integrated services and solutions covering the R&D of technologies used in the testing, control, and operations of commercial spacecraft, the manufacturing of aerospace communication equipment, and the operations of in-orbit spacecraft.
The startup claims to operate a network of over 60 satellite ground stations globally and one commercial satellite calibration facility in the autonomous region of Ningxia in north-central China. In total, it has served more than 300 satellites and rockets so far, according to its official website.
Emposat said that it has completed eight funding rounds so far. In June 2023, the startup raised nearly 200 million yuan ($27.7 million) in a Series Pre-B round led by Beijing-based ZGC Science City. Its earlier investors include Future Capital, Yinxinggu Capital, and Orient Securities, among others.
Primavera Venture Partners leads funding in XR startup OPTIX
Global extended reality (XR) startup OPTIX has closed an oversubscribed pre-Series A round led by Primavera Venture Partners, bringing its total equity fundraising sum to $15 million.
The pre-Series A round, which was supported by existing investors including Lanchi Ventures, is the startup’s third funding round in less than two years since its inception in August 2022. Its angel round was led by Lanchi Ventures, with participation from Vlight Capital.
The startup develops optics technology and offers advanced solutions for next-generation augmented reality (AR) and virtual reality (VR) products.
It specialises in AR waveguide technologies, which is fundamental in consumer-grade AR glasses, as well as the in-house design and fabrication of VR Pancake lenses which, compared to traditional lenses, focus light more efficiently through a slim, flat profile made of thin elements.
Having established its own laboratory and manufacturing process, OPTIX debuted its VR Pancake optical module in June 2023, weeks after Apple showcased its first headset Vision Pro. The startup plans to launch its AR waveguide model in the third quarter of this year.
