Chinese commercial rocket company Beijing Interstellar Glory, also known as i-Space, has completed the first tranche of a Series E funding round worth nearly RMB1 billion. The investors are mainly bank-affiliated asset-management institutions, while the broader round remains under way.
The funding will support R&D and batch production of the Hyperbola-3 reusable rocket, construction of capacity for the Focus-2 liquid-oxygen methane engine, launch and sea-recovery support, and preliminary work on heavy-lift launch-vehicle technology. [Jiemian, in Chinese]