- Astron plans to use the new capital to advance its reusable rocket development, targeting a maiden flight in the first half of 2027.
- Astron is the only commercial rocket firm in China adopting a technical route combining a stainless steel body, liquid oxygen-methane propulsion, and chopstick-style recovery.
Chinese commercial space startup Astron Stone announced the completion of a new funding round, bringing its total capital raised to 1 billion yuan ($147 million).
Beijing-based Astron raised 500 million yuan in its latest Series A funding round, which was co-led by Gaorong Capital and Kunlun Capital.
The proceeds will help the company accelerate the research, development, and manufacturing of its medium-to-large reusable rockets amid an increasingly fierce space race, according to a statement on Monday.
Several industry shareholders including Zijin Mining, along with existing investors such as GL Ventures and Cornerstone Capital, also participated in the investment.
Astron plans to allocate the newly raised funds primarily for rocket assembly and testing, as well as the ground verification of its chopstick-style recovery technology, the statement said.
The company plans to manufacture three rockets in 2026 to ensure a successful maiden flight mission in the first half of 2027.
Astron is the only commercial rocket enterprise in China utilizing a stainless steel body and liquid oxygen-methane propulsion, combined with a chopstick-style catch-arm recovery system.
Its AS-1 carrier rocket features a diameter of 4.2 meters and boasts a low Earth orbit payload capacity of 10 tons in reusable mode, according to Astron.
To support future scaled operations, the company is rapidly expanding its infrastructure and research and development team.
Its rocket development and assembly base in Hunan province is expected to be officially delivered in the third quarter of 2026. Once fully operational, it will have an annual production capacity of eight rockets, the statement noted.
With the accelerated construction of low Earth orbit satellite constellations, market demand for high-capacity and low-cost reusable carrier rockets is surging.
Astron's strategic positioning aims to significantly lower the barrier to space entry and provide core support for the future space economy and infrastructure development.
($1 = 6.7921 yuan)
