The Chinese commercial space sector is experiencing a surge in activity, with multiple companies making significant strides in rocket development and testing. iSpace, also known as Beijing Interstellar Glory Space Technology Ltd., recently announced securing $98 million (700 million yuan) in Series D+ funding. This substantial investment will fuel the development of the medium-lift Hyperbola-3 launcher and associated infrastructure.
This follows a previous D-round funding secured earlier this year. The latest round was led by Chengdu Advanced Capital, with co-investments from entities closely tied to the Chengdu municipal government. A significant portion of the funds will be allocated to constructing a rocket production base in Chengdu and an engine production line in Mianyang. The Hyperbola-3, a two-stage methane-liquid oxygen rocket, boasts a payload capacity of 8,500 kilograms to low Earth orbit (LEO) in reusable mode and 13,400 kg in expendable mode. While an initial December launch was targeted, the company now states it is steadily advancing pre-maiden flight preparations. All components for the first Hyperbola-3 have been delivered, with final assembly underway.
The launch will utilize China’s first autonomous rocket recovery ship, Xingji Guihang ("Interstellar Return"), for offshore recovery. Space Pioneer also made significant progress with a successful static fire test of the first stage for its Tianlong-3 kerosene-liquid oxygen rocket. This follows a previous setback. The test involved nine Tianhuo-12 engines firing in parallel, moving the company closer to an orbital launch attempt. Meanwhile, other companies are also making headway. Orienspace performed a full hot fire test of its kerolox Force-110 engine for the Gravity-2 launch vehicle, and Deep Blue Aerospace successfully tested the 130-ton-thrust Thunder RS engine for the Nebula-2 rocket, aiming for an orbital launch as soon as 2026.
These advancements highlight the intense competition among Chinese commercial space startups to secure launch contracts, particularly for projects such as the national Guowang broadband megaconstellation. The race to develop reliable and reusable medium-lift launchers is well underway.