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HomeChina Beijing-Based Rocket Developer Space Pioneer $207 Million in Series C+ Funding

[FUNDING NEWS] Beijing-Based Rocket Developer Space Pioneer $207 Million in Series C+ Funding

Space Pioneer, a Beijing-based rocket developer, announced that it has successfully concluded a fundraising round totaling more than $207 million, which will be used to fund the company's reusable rocket research.

Space Pioneer, a Beijing-based rocket developer, announced that it has successfully concluded a fundraising round totaling more than $207 million, which will be used to fund the company’s reusable rocket research.

Beijing Tianbing Technology Co., better known as Space Pioneer, is one of a select few quickly expanding commercial rocket companies, motivated by the government’s desire to make China a space powerhouse.

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Space Pioneer was founded in 2019 and has raised over 4 billion yuan with the completion of 15 funding rounds. The most recent funding will be utilised to support both the Tianlong-3 rocket’s mass production and inaugural flight.

Launched in April 2023, orbit Pioneer became the first private Chinese company to fly a liquid-propellant rocket into orbit with the Tianlong-2, or “Sky Dragon,” a kerosene-oxygen rocket.

Space Pioneet reports that the first stage of the two-stage Tianlong-3 will be reusable, which can dramatically reduce mission costs for clients.

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A portion of the additional funds will be utilised by Space Pioneer to continue developing the two-stage Tianlong-3, which is partially reusable and has a first stage that can make an autonomous vertical landing and be reused up to ten times.

The company plans to utilise the financing to fund the mass manufacturing of its three-stage, liquid-fueled Tianlong-2 rocket, which began operations in early 2023.

About Space Pioneer

Chinese aerospace business Space Pioneer is developing reusable orbital rocket launch vehicles and liquid rocket engines for low-cost space launch services. We seek to meet launch requirements for the Chinese national satellite internet project and the CNSA Tiangong space station resupply RFP.

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