Beijing-based private commercial satellite company MinoSpace has closed their Series A2+ round, collecting nearly RMB 100 million ($14.2 million), led by investment firm Billionhome Capital.

The new funds will serve to develop satellites weighing more than 200 kg. — the firm has already launched four satellites into orbits during 2019, making MinoSpace one of the pioneers in China’s burgeoning private aerospace sector.

The recent round comes after the company scored an investment worth “tens of millions of yuan” in its Series A+ round in September 2019.

MinoSpace, which was established in 2017, produces communication satellites and satellite components, and is also engaged in the development of a smallsat platform and a satellite communication ground terminal.

More than 141 commercial aerospace companies had been registered in China by the end of 2018, following a late 2014’s central government policy which opened the space to private capital to boost the satellite sector development in China.

Article source: KrASIA, by Song Jingli