Shenlan Space, also known as Beijing Deep Blue Space Aerospace Technology, has received $139.7 million in funding from a state-owned investment holding company connected to the Wuxi National Hi-Tech District, in a Series B2 round that was headed by the group.
According to a press release from the company, the money will assist Deep Blue expand its production and research and development capabilities as it works to commercialize its reusable rockets.
In addition to the investment, the company plans to establish its production branch in the Wuxi National Hi-Tech District.
The investment was made soon after the company closed its Series B and Series B1 funding rounds in May, which attracted investors like Jigang Dongtai Fund and Founder H Fund.
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The Wuxi-based company was founded in 2016 and is focused on developing and manufacturing liquid-fuel rockets for use in commercial launches. The company has a test launch site in Jinan, the capital of Shandong province in China, in addition to its research and development center in Beijing.
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According to the statement, the private rocket company hopes to finish the first orbital launch and recovery of “Nebula-1,” its medium-and-small liquid launch vehicle, by the end of 2024. It also plans to finish the first launch and recovery of “Nebula-2,” a larger version of “Nebula-1,” by the end of 2025.
China’s spacetech companies have been enjoying strong financing flows. The Series C+ round of Space Pioneer and the Series C1 round of satellite producer MinoSpace Technologies are two recent megadeals in the industry.
About Deep Blue Aerospace
Deep Blue Aerospace Technology Co., Ltd., a private space launch company, in November 2016. The corporation is situated on China’s east coast in the province of Jiangsu. It is working on creating reusable rockets.
