Chinese private space launch developer LandSpace nets $71m in Series C round

Chinese private space launch developer LandSpace nets $71m in Series C round

Chinese private space launch firm LandSpace announced on Tuesday that it has secured 500 million yuan ($71 million) in a Series C round of financing from Country Garden Venture Capital, a private equity vehicle of Chinese property developer Country Garden.

The new investment will finance the development and launch preparation of a new medium-scale liquid-fuelled carrier rocket, Zhuque-2 (ZQ-2), which was named after a Chinese mythical creature that represents the fire, according to a company statement.

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