Xingyuan Zongheng raises nearly $15M seed for satellite internet push

What's the deal? Chinese satellite internet company Xingyuan Zongheng has raised nearly 100 million CNY (about $14.8 million) across angel and angel-plus rounds. The angel-plus round was led by Dingxin CapitalDealroom has a profile for this one. Try Dealroom →, with Shunxi Angel Fund and Guangzhou Industrial InvestmentDealroom has a profile for this one. Try Dealroom → participating.

What does it do? Xingyuan Zongheng builds space networks, offering integrated satellite-and-rocket research, production, testing, and operational support at both single-satellite and constellation levels.

What's the money for? The company will spend the funds on satellite development technology, in-orbit product verification, and expanding its industrialisation capacity.

Who else is involved? Shiun Capital served as financial adviser across multiple rounds and continues in a long-term role.

The signal: The raise reflects continued investor appetite for China's satellite internet sector, where firms are racing to build out constellation-scale space infrastructure.

Image credit: jurvetson