What is the story about?
What's Happening?
Chinese launch startup iSpace has secured $98 million in series D+ funding to advance its Hyperbola-3 reusable rocket development. The funding will support the construction of rocket production facilities and engine production lines in Chengdu. The Hyperbola-3 rocket, capable of carrying payloads to low Earth orbit, is part of China's competitive reusable rocket race. iSpace plans to conduct an 'orbital plus offshore recovery' test flight, with preparations underway for its maiden launch.
Why It's Important?
iSpace's funding and development efforts reflect China's growing ambitions in the commercial space sector. The reusable rocket technology aims to reduce costs and increase launch frequency, positioning China as a key player in global space exploration. The advancements in rocket recovery and reusability could lead to more sustainable and efficient space missions. The competition among Chinese startups may drive innovation and technological breakthroughs, impacting the international space industry.
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