China-based space launch services provider LandSpace has closed a RMB300m ($43.2m) series B-plus round that included wind turbine manufacturer Goldwind and media and investment services provider 36Kr, China Money Network has reported.
Venture capital firm China Growth Capital led the round, the details of which were initially revealed on LandSpace’s WeChat account. It included Zhongji Investment and the investment vehicle for Xidian University, while 36Kr invested through its 36Kr fund.
Founded in 2015 and also known as Beijing Blue Arrow Space Technology, LandSpace is working on rockets that will be used for private space launches. It is testing a liquid oxygen methane rocket set to be the largest ever in China, with a planned launch slated for 2020.
The company, which was formed at Tsinghua University, launched a solid-fuel orbital launcher called Zhuque-1 last month, only for it to fail to reach orbit.
LandSpace said the round increased its overall funding to approximately $115m, and that the proceeds will support research and development.
Goldwind had previously led a $31.7m series B round for the company in April this year that included FounDream, PGA Ventures and Guokai Ronghua, according to China Money Network.
