GL Ventures backs Tianyi Antenna's late-stage round in China's reusable rocket engines
What's the deal? Chinese aerospace startup Tianyi AntennaDealroom has a profile for this one. Try Dealroom → has raised a late-stage VC round, backed by GL VenturesDealroom has a profile for this one. Try Dealroom →, the venture arm of HillhouseDealroom has a profile for this one. Try Dealroom →.
The company develops closed-cycle liquid oxygen-methane rocket engines and reusable launch vehicles in-house.
Its core products include the AJ-20 oxygen-rich staged combustion engine, the AJ-30 full-flow staged combustion engine, and medium-to-heavy reusable rockets.
It also builds rocket control systems and supporting power-test equipment.
Why now? The round was announced in June 2026, as demand grows for low-orbit satellite networks, space-based computing, and commercial lunar missions.
Reusable engines are central to cutting launch costs, the key bottleneck for scaling commercial spaceflight.
What could go wrong? Developing staged combustion engines and reusable rockets is technically hard and capital-intensive.
Many startups in this space face long timelines before a successful flight, and the market is crowded with rivals chasing the same launch contracts.
The signal: The round marks another bet by Hillhouse's GL Ventures on China's capital-intensive commercial space hardware sector, an area where reusable engines are the critical lever for lowering launch costs. As an early-stage company, Tianyi Antenna faces a long road from staged combustion development to proven flight, but backing from an established investor signals growing confidence in the segment's long-term trajectory.
Read more: ITjuzi
