Chinese pseudo-company raises $729 million
The Chinese pseudo-company rocket startup Ispace announced on February 13, 2026 that it has raised $729 million in new investment capital.
Beijing Interstellar Glory Space Technology Ltd., also known as iSpace, announced the D++ funding worth 5.037 billion yuan Feb. 12, following a D+ round of $98 million (700 million yuan) in September 2025. The round appears to be the largest disclosed funding round so far for a Chinese launch startup, eclipsing the previous rounds secured by Space Pioneer ($350 million) and Galactic Energy ($336 million) in 2025.
A press statement outlines a hybrid syndicate of numerous funding round participants, incgovernment industrial funds, state-linked strategic ecosystem investors, municipal and provincial investment vehicles and private equity. This follows a trend of strong strategic investment in space companies in China over the past couple of years since the central government identified commercial space as a strategic emerging industry and key driver of high-tech development. Co-leads Tongchuang Weiye and existing shareholder Jingming Capital represent market-oriented investors focused on advanced manufacturing and aerospace, and were joined by repeat backing from private equity players such as CDH Baifu and Ganquan Capital. [emphasis mine]
It is hard to determine how independent these Chinese investment firms are from the government. I suspect the communists are closely involved in some manner or another.
The press release made no mention of a timeline for when Ispace will attempt the first launch and recovery of its Hyperbola-3 rocket. It had previously targeted a 2025 launch, but that never happened.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The Chinese pseudo-company rocket startup Ispace announced on February 13, 2026 that it has raised $729 million in new investment capital.
Beijing Interstellar Glory Space Technology Ltd., also known as iSpace, announced the D++ funding worth 5.037 billion yuan Feb. 12, following a D+ round of $98 million (700 million yuan) in September 2025. The round appears to be the largest disclosed funding round so far for a Chinese launch startup, eclipsing the previous rounds secured by Space Pioneer ($350 million) and Galactic Energy ($336 million) in 2025.
A press statement outlines a hybrid syndicate of numerous funding round participants, incgovernment industrial funds, state-linked strategic ecosystem investors, municipal and provincial investment vehicles and private equity. This follows a trend of strong strategic investment in space companies in China over the past couple of years since the central government identified commercial space as a strategic emerging industry and key driver of high-tech development. Co-leads Tongchuang Weiye and existing shareholder Jingming Capital represent market-oriented investors focused on advanced manufacturing and aerospace, and were joined by repeat backing from private equity players such as CDH Baifu and Ganquan Capital. [emphasis mine]
It is hard to determine how independent these Chinese investment firms are from the government. I suspect the communists are closely involved in some manner or another.
The press release made no mention of a timeline for when Ispace will attempt the first launch and recovery of its Hyperbola-3 rocket. It had previously targeted a 2025 launch, but that never happened.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
“The press release made no mention of a timeline for when Ispace will attempt the first launch and recovery of its Hyperbola-3 rocket. It had previously targeted a 2025 launch, but that never happened.”
Shouldn’t that be Hyperbolie-3 rocket?
Blair Ivey: Nope, for once I didn’t make a typo mistake. Hyperbola-3 is the name.
The takeaway from this story is that China isn’t afraid of putting real bank behind space projects….while Europe and Japan dawdle.
Robert: that was a joke, referencing the fact that the rocket was hyped, but has not launched. Sorry for the misunderstanding.
“It is hard to determine how independent these Chinese investment firms are from the government. ”
I would think that everything in China is beholden to the government.
“It is hard to determine how independent these Chinese investment firms are from the government.”
Jack Ma is unavailable for comment.
Andi and James: Heh. I am just trying to be reasonably precise in what I write, based on what I know.
They certainly are no friends of Islam—points for that at least. The West dropped the ball letting Constantinople.
I wish they’d invade Afghanistan…they might be the only ones to bring that bunch to heel.
China controls everything in totality in China.
The control the banks and the news of the banks. The Economy and the news of the economy. The forms of production and the news of those forms. Investors and all they invest in.
This gives them the power to print all the cash they need then never let the public know the effects on the economy.
When the news does get out about a bad economy the bankers die for it.
The last estimate of the Chinese population is that its well below a billion people. They cant even let their own people know their population is shrinking.
Another reason they are usurping Japan in terms of robots.
There was quite the robotic martial arts display celebrating the (new) year of the horse.
Japan also has demographic collapse.
Japan went soft….I hope their new leadership turns things around.
I am old enough to remember the death of Mao and the horrific earthquake both happening in 1976.
I had just turned 10, and ugh… Logan’s Run was about all sci-fi had….the year of Rocky.
Post Vietnam, the bicentennial felt hollow, and Star Wars was a year from release.
Then came Star Wars and the 80’s….and Japan made great strides.
But they faltered, and China made great strides… different economic systems notwithstanding.
I think people get caught up in which -ists or -isms are the best. P.J. talked about culture…but Japan and China still have more in common….they both value excellence, propriety, discipline.
It is a mystery….
Please point out those Chinese robots.
The Chinese new year robots were remote controlled from off stage.
They have not yet exhibited robots that can do things independently. They are decades behind Boston Dynamics.