Xingyi Space raises hundreds of millions of yuan in Series A for spacecraft tracking
What's the deal? Shaanxi Xingyi Space Technology has closed a Series A round worth several hundred million yuan, the company said. The financing combined a capital increase with strategic investment, following an earlier Pre-A round.
Who's backing it? The round drew Jiangsu Venture Capital, Lihe Qingdong, Septwolves Holdings, Zhichen InvestmentDealroom has a profile for this one. Try Dealroom →, Lanxi Capital, and Haixi Venture Capital.
What's the endgame? Xingyi Space designs, builds, and operates tracking, telemetry, and control networks for commercial spacecraft, supplying related software and hardware. The company will use the funds to expand its global measurement and control infrastructure and advance its technology.
The signal: The raise underscores investor appetite for the ground-side infrastructure that commercial space operators depend on to track and command their satellites — a less crowded corner of China's fast-growing space sector.
Read more: en.tmtpost.com
Image credit: NASA Goddard Space Flight Center
