What Happened
Chinese Launch Vehicle Maker Advances Hyperbola-3 Development
Chinese reusable launch vehicle maker iSpace has secured nearly $148 million in a first batch of series E funding, which will support the development of its Hyperbola-3 reusable launch vehicle. The funding round was dominated by asset investment companies affiliated with China’s major state banks, reflecting the central government’s emphasis on the strategic importance of commercial space. iSpace plans to use the funding to advance its research and mass production capabilities, as well as launch and sea recovery infrastructure, with the goal of launching the Hyperbola-3 before the end of 2026. This development was first reported by SpaceNews.