China-based satellite developer Spacety has received RMB150m ($22.2m) in a series B round led by Legend Capital, the venture capital firm launched by conglomerate Legend Holdings, China Money Network has reported.
Dianke Xinghe Fund, an investment vehicle backed by real estate developer Galaxy Holding Group, also participated in the round, along with private equity firm Matrix Partners and VC firms K2VC and Maintrend Capital, according to China Money Network.
Spacety develops microsatellites for commercial use as well as for researchers and scientists. It has been responsible for the launching of four satellites in the past two years.
The company, which was founded in 2016, has not publicly disclosed any earlier funding, but the series B round comes after rounds for fellow China-based space technology developers ExPace Technology and Landspace in recent months.
– Image courtesy of Spacety.