12 February 2026 Beijing Interstellar Glory Space Technology Ltd., also known as i-Space, announced a D++ funding round worth 5,037 billion yuan (about 705 – 730 million US dollars). This happened after a round of D+ on 700 million yuan (98 millions of dollars) In September 2025 year.
For reference: i-Space is a Chinese private space company, founded in 2016 year. It specializes in the development of commercial launch vehicles and the provision of launch services for small and medium-sized satellites. The company became the first private company in China, which carried out a successful orbital launch in 2019 year using a solid-fuel Hyperbola-1 rocket.
The press release describes a hybrid syndicate of multiple participants in the round, including state industrial funds, strategic investors, related to the state, municipal and provincial investment structures, as well as private investment funds. This continues a trend of strong strategic investment in China's space companies over the past few years, since the central government identified commercial space as a strategic new industry and a key driver of high-tech development.
The company declares, that the funds will be used to further accelerate the development and commercialization of reusable methane and liquid oxygen rocket models. The "ground launch" approach will also be promoted, sea return", capacities for final assembly and comprehensive testing will be expanded. in addition, i-Space will expand and strengthen its industrial presence in Beijing, Shaanxi, Hainan, Sichuan and Guangdong. The scale of the round indicates the capital intensity of developing reusable launch systems, covering infrastructure for engine testing, production lines, maritime return systems and integration of spaceports.
Source: https://spacenews.com