LandSpace Technology Corporation, led by CEO Zhang Changwu, is a Beijing-based private aerospace enterprise focused on R&D and operations of launch vehicles for small- and medium-scale commercial aerospace applications. The company develops liquid-fuel rocket engines (LREs) and low-cost commercial launch vehicles with independent intellectual property rights. It closed a ¥300m (≈$43m) Series B+ financing to fund continued development of its engine and vehicle programs. The financing, led by China Growth Capital with participation from Zhongji Investment, 36Kr, Juzhuo Capital and others, brought total funding to over ¥800m (≈$115m). LandSpace intends to use the proceeds to continue development of the 80t liquid oxygen–methane engine “Tianque” (TQ-12) and the medium-sized liquid launch vehicle “Zhuque 2” (ZQ-2). The trial run of a short nozzle state thrust chamber for TQ-12 was completed by the end of September 2018, with a full-system test expected in the first half of 2019; Zhuque 2’s maiden flight was planned for 2020. LandSpace is a private rocket developer and manufacturer focused on developing LOX/methane liquid rocket engines and medium-sized launch vehicles. The company tested the thrust chamber of its proprietary LOX/methane engine Phoenix in March 2018 and plans hot-fire tests of engines of all sizes later in the year. It also developed LandSpace-1, a small solid-fuel four-stage launcher with a 300 kg payload expected to finish production in the second half of 2018. LandSpace operates R&D centers in Beijing and Xi’an and plans an intelligent manufacturing base in Huzhou to accelerate engine development. The company aims to complete assembly and testing of its medium liquid launcher by 2020 and to be able to independently design, manufacture, assemble and test LOX/methane engines within three years. LandSpace employs around 140 people and targets the small- and medium-sized launcher market worldwide.

Total raised

$76M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2019