China's iSpace raises $148 million in first tranche of Series E round
iSpace (Beijing Interstellar Glory)
China's iSpace closed a $148 million first tranche of a Series E round for its reusable Hyperbola-3 rocket, with fundraising ongoing.
what happened
SpaceNews and TechNode reported iSpace secured nearly RMB 1 billion ($148 million) in the first batch of a Series E round, backed mainly by bank-affiliated asset investment companies. The funds target Hyperbola-3 reusable rocket development, Focus-2 methalox engine production capacity, launch and sea-recovery infrastructure, and preliminary heavy-lift rocket work.
why it matters
iSpace already raised a record $729 million in February 2026 for the same reusable-rocket push; a second nine-figure tranche this soon signals continued state-linked capital backing China's reusable-launch race, alongside rivals like LandSpace and Space Pioneer, ahead of iSpace's planned 2027 IPO.
for who
Launch-market investors, China-focused analysts
signal-to-noise
quick facts
- Companies
- iSpace (Beijing Interstellar Glory)
- Category
- financial
- Impact
- major
- SNR
- 4 / 5
- Event date
- 2026-08-12
- Published
- 2026-08-12 17:36 UTC