LandSpace, a private Chinese rocket company, announced today that it has closed an RMB 1.2 billion C+ round of financing. Over the past 12 months, the company has raised over RMB 1.8 billion in investments.
The round of financing, led by Sequoia Capital China, Country Garden Venture Capital, and Matrix Partners China, will secure the development of the Zhuque II series of liquid launch vehicle products to provide a guarantee for the development and production of the Zhuque II series of liquid launch vehicle products.
As a commercial rocket company that has established a "design-develop-produce-test-launch" capability, LandSpace aims to build a commercial launch capability centered on medium and large-size liquid oxygen methane launch vehicles.
LandSpace's self-developed Zhuque 2 is a 49.5-meter-long, 3.35-meter-diameter launch vehicle. It has a takeoff thrust of 268 tons, a takeoff mass of 216 tons, an LEO capacity of 6 tons, and the ability to cover all types of orbits through parallel core stages.
LandSpace founder and CEO Zhang Wuchang said, "LandSpace is still in the accumulation and exploration period, and will focus on commercial satellite launch needs and focus on building the efficient capacity of the Zhuque series of liquid rockets to help the development of China's space industry."
As of the end of August 2020, LandSpace has completed a number of full-system thermal test trials of the Tianque 80-ton and 10-ton engines, and the Zhuque II liquid launch vehicle has also completed a number of important ground tests, with subsystem components being delivered one after another.
LandSpace will be the first private rocket company in China to establish a low-orbit satellite launch capability," said Xi Cao, partner of Sequoia Capital China, the co-lead investor of this round. Having built a solid base of capabilities over the past five years has ensured a sustainable leadership position."
