Chinese pseudo-company raises $729 million
The Chinese pseudo-company rocket startup Ispace announced on February 13, 2026 that it has raises $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 raises $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