iSpace Secures $148M for Reusable Heavy-Lift Ambitions
Chinese private launch provider iSpace has initiated a Series E funding round to accelerate development of the Hyperbola-3 reusable rocket and sea-recovery infrastructure.
Capital Influx for Reusable Heavy-Lift
Beijing-based launch provider iSpace has secured approximately $148 million (1 billion yuan) in the initial closing of a Series E funding round. According to SpaceNews, the investment was spearheaded by asset management firms linked to China’s major state-run banks. This fresh injection follows a massive $729 million D++ round closed in February, signaling an aggressive consolidation of capital within the Chinese private space sector.
Strategic Objectives
The funding is designated for the rapid scale-up of the Hyperbola-3 reusable launch vehicle. Key priorities include mass production of the Focus-2 methane-liquid oxygen engine and the expansion of maritime recovery infrastructure. Currently, iSpace is testing its specialized recovery vessel, Interstellar Return, a 100-meter platform designed to catch descending first stages.
Mission Trajectory
The Hyperbola-3 is a 69-meter liquid-propellant rocket capable of delivering 13,400 kg to Low Earth Orbit (LEO) in expendable mode, or 8,500 kg when configured for reuse. Following a series of mixed results with the solid-fueled Hyperbola-1, the company is pivoting to liquid propulsion to compete for domestic megaconstellation contracts. A debut flight and first-stage recovery attempt are currently scheduled for late 2026.
Market Position
iSpace is navigating a crowded field of commercial competitors, including Landspace and Space Pioneer, all vying for dominance in the reusable market. If technical milestones are met, the company aims for a public listing on the STAR Market by the second half of 2027.