Facing the explosive demand of various satellite networks, Orienspace innovatively builds the series of medium-and-large-sized commercial launch vehicles named “Gravity,” achieving the economies of scale
Chinese space launch startup Orienspace (Chinese: 东方空间) has raised USD 59.9 million in a Series A financing round. The investment was led by Hike Capital, followed by Minyin International, miHoYo, Vision Plus Capital and existing investor Pagoda, among other institutions.
The proceeds will be used to develop and test its medium-sized launch vehicle “Gravity-1.” Other purposes include accelerating the development of “Gravity-2,” a reusable liquid oxygen kerosene rocket engine weighing hundreds of tons.
Orienspace puts a high value on design and production, and it will strengthen the construction of supporting infrastructure for R&D, test and manufacture.
Although the demand of global commercial launch plans exceed 100 billion, the effective launch capacity fails to meet the demand. China is actively dealing with global competition and has an increasing demand for commercial launch capacity with large load and rapid response, said Liu Xin, COO and CFO of Vision Plus Capital.
He added that Orienspace has a mature methodology and process classification standards for core technology of medium-and-large-sized commercial launches. With its experience and commercialized ability, Orienspace will provide low-cost, large-scale, and efficient launch services and diversified products, said Liu.
The medium-sized commercial launch vehicle “Gravity-1” has entered into the preliminary development stage. It possesses the largest launch capacity among China’s private aerospace companies, which can lift around 6.5-ton payload to low Earth orbit, or a 4.2-ton payload to 500-kilometer sun-synchronous orbit. The whole system of “Gravity-2” will be tested in early 2023.
Orienspace will compete with fellow Chinese rocket companies, such as Landspace, iSpace, Galactic Energy, Space Pioneer and Deep Blue Aerospace.