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Landspace secured $175,000,000 in funding in 2020 as a Chinese NewSpace launch company.
Beijing-based Landspace and iSpace are developing methalox rockets capable of landing using variable-thrust engines.
Jiuquan Satellite Launch Center is developing a launch complex to facilitate launches of liquid methane-liquid oxygen rockets being developed by Landspace and iSpace.
Chinese commercial launch providers Expace, Landspace, and iSpace previously secured funding rounds of up to $175 million, $175 million, and $173,000,000 respectively.
Landspace aims to test launch the methane-LOX Zhuque-2 next year before upgrading to a variable-thrust, VTVL first stage.
Landspace’s planned Zhuque-2 methalox launcher and Galactic Energy’s Pallas-1 are planned to be more capable than iSpace’s Hyperbola-2.
Beijing-based Landspace is developing a methalox rocket capable of landing using variable-thrust engines and expects its first launch of Zhuque-2 to be expendable in mid-2021.
iSpace secured $173,000,000 in Series B funding two weeks before Landspace raised $175,000,000.
Landspace’s new funding will be used to develop the Zhuque-2 series of launch vehicles designed to deliver satellites to low Earth orbit and sun-synchronous orbit.
Zhuque-1, a 19-meter-tall, 1.3-meter-diameter, 27-metric-ton light-lift solid rocket from Landspace, failed to reach orbit in its only flight in October 2018.
Sequoia Capital China, Country Garden Venture Capital, Matrix Partners China, and Cornerstone Capital jointly led Landspace’s $175,000,000 Series C+ funding round.
Landspace’s $175,000,000 Series C+ round matches the funding amount of Expace, a launch service provider owned by CASIC.
Landspace’s website lists Zhuque-2 variants capable of sending 6,000 kg to low Earth orbit and 4,000 kg to sun-synchronous orbit, possibly using side boosters.
Landspace raised $175,000,000 in a Series C+ funding round for development of its Zhuque-2 methane-liquid oxygen launch vehicles.
Domestic competitor Landspace is developing a methalox launch vehicle named Zhuque-2 with an inaugural launch set for 2021.
Landspace completed three gimbaling hot fire tests of the SkyLark (Tianque-12) 80-ton-thrust cryogenic methane/liquid oxygen rocket engine in early to 2020-05-15.
Landspace entered a joint compatibility test phase for ZQ-2 ahead of a first launch planned for late 2020 or early 2021.
Landspace Technology Corporation completed a 1,500-second test of its Tianque-11 10-ton-thrust engines in March.
Landspace completed full-system hot tests of 10 seconds, 100 seconds, 750 seconds, and 1,500 seconds for the Tianque-11 engines.
Launch firms Landspace, iSpace, OneSpace, and Linkspace are developing launch vehicles with the aim of providing low-cost launch services domestically and internationally.