Space Star Technology raises $297M Series D as Sequoia China joins in
What's the deal? Space Star Technology, a China-based aerospace company, has raised nearly 2 billion yuan ($297 million) in a Series D round, according to Wanchuang Investment BankDealroom has a profile for this one. Try Dealroom →. Sequoia ChinaDealroom has a profile for this one. Try Dealroom → led a syndicate that included Qianhai Ark Asset ManagementDealroom has a profile for this one. Try Dealroom →, China Unicom KaixingDealroom has a profile for this one. Try Dealroom →, Zijin MiningDealroom has a profile for this one. Try Dealroom →, SAIC MotorDealroom has a profile for this one. Try Dealroom →, Wuliangye YibinDealroom has a profile for this one. Try Dealroom →, and NinestarDealroom has a profile for this one. Try Dealroom →.
What does it do? The company provides telemetry, tracking and command (TT&C) and in-orbit services. It has built a global satellite ground-station network and calibration system spanning more than 60 stations, and says it has served 684 satellites and rockets in total.
Who else is backing it? Puhua CapitalDealroom has a profile for this one. Try Dealroom →, Xiaomiao LangchengDealroom has a profile for this one. Try Dealroom →, Senna CapitalDealroom has a profile for this one. Try Dealroom →, Huaan JiayeDealroom has a profile for this one. Try Dealroom → and Jinyuan CapitalDealroom has a profile for this one. Try Dealroom → also joined. A 2016 release described Space Star Technology as a subsidiary of the China Academy of Space TechnologyDealroom has a profile for this one. Try Dealroom →.
By the numbers: The raise ranks in the 95th percentile among Series D rounds in China's space sector over the past 48 months, based on a sample of 176 deals. That places it among the largest late-stage space financings in the country.
The signal: The breadth of backers — from a state telecom and a carmaker to a miner and a liquor group — points to the strategic weight China assigns to satellite infrastructure. Sequoia China's participation adds a private-venture investor to a sector increasingly shaped by state-linked capital.
Read more: Tech in Asia
Image credit: _salomax
