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The Hyperbola-1 solid rocket developed by private firm iSpace accounted for both of China’s two launch failures in 2021.
ispace raised $28,000,000 in a Series B round nearly one year before the Series C financing.
ispace’s cumulative total funding reached approximately $195,500,000 (USD) including past equity rounds and bank loan financing.
ispace’s Series C funding total included bank loan financing that was announced in June 2021.
ispace’s Series B round provided sufficient funding for Mission 1, which is scheduled to launch in 2022.
ispace contracted approximately $46,000,000 (USD) from seven investors for its Series C investment round.
Series C investors in ispace included Incubate Fund, Innovation Engine New Space Industry Investment Limited Partnership, Innovation Engine POC No.2 Investment Limited Partnership, SBI 4+5 Investment LLP, SBI 4+5 Investment LLP No. 2, Katsunori Sago, an investment vehicle managed by HiJoJo Partners, AIZAWA Investments Co., Ltd., and Ariake Secondary Fund II LP managed by Aizawa Asset Management Co., Ltd.
ispace planned to apply the new Series C funds toward its second lunar mission, which is planned to launch in 2023.
On its first mission, ispace’s lander will deliver payloads for the Mohammed bin Rashid Space Centre, the Japan Aerospace Exploration Agency, and three companies awarded under the Canadian Space Agency’s Lunar Exploration Accelerator Program.
Incubate Fund began investing in ispace at the company’s 2014 seed round.
ispace’s first mission lander was undergoing final assembly at an ArianeGroup facility in Germany and was planned to launch from the United States on a SpaceX Falcon 9 rocket.
ispace launched a lunar data business concept to support private sector companies with lunar market entry.
With the Series C round, ispace has raised $195,500,000 to date.
ispace raised $46,000,000 in a Series C funding round on 2021-08-04 to support future missions to the moon.
ispace planned to use Series C funds to increase the size of its lunar lander for its third mission, which is planned to launch in 2024.
ispace is part of a Draper-led team selected by NASA to compete in the Commercial Lunar Payload Services program.
Mission 3 will use a larger lander being developed in ispace’s U.S. office and is planned to launch in 2024.
iSpace conducted a launch of a Hyperbola-1 four-stage solid rocket from Jiuquan Satellite Launch Center at around 15:50 local time (3:50 a.m. Eastern) on 2021-08-03.
The first Hyperbola-1 rocket successfully sent a satellite into orbit in July 2019, making iSpace the first private Chinese launch company to achieve orbit.
iSpace raised $173,000,000 in a Series B funding round last year.