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Beijing-based private commercial satellite company MinoSpace has closed their Series A2+ round, collecting nearly RMB 100 million ($14.2 million), led by investment firm Billionhome Capital.
The new funds will serve to develop satellites weighing more than 200 kg. — the firm has already launched four satellites into orbits during 2019, making MinoSpace one of the pioneers in China’s burgeoning private aerospace sector.
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The recent round comes after the company scored an investment worth “tens of millions of yuan” in its Series A+ round in September 2019.
MinoSpace, which was established in 2017, produces communication satellites and satellite components, and is also engaged in the development of a smallsat platform and a satellite communication ground terminal.
More than 141 commercial aerospace companies had been registered in China by the end of 2018, following a late 2014’s central government policy which opened the space to private capital to boost the satellite sector development in China.
Article source: KrASIA, by Song Jingli