The round was led by Beijing Financial Street Capital Operation Center, with participation from several other investors, such as CICC Alpha, the company said.
The Beijing-based company intends to use the funds to develop Hyperbola series launch vehicles and Focus series reusable liquid oxygen-methane engines, as well as cultivating more talent.
Established in 2016, i-Space has become a rising star in the country's space arena.
On July 25, 2019, a carrier rocket developed by the company sent two satellites into orbit, marking the first successful orbital launch by a private Chinese firm.
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