ZhenFund's Angel Project ORIENSPACE Announced Completion of Nearly 600 Million Yuan Series B Financing

ORIENSPACE has recently announced the successful completion of its nearly 600 million yuan Series B financing round. ZhenFund had previously invested in ORIENSPACE during the angel round in 2021.

Established in 2020, ORIENSPACE is a design and manufacturing service company specializing in launch vehicles and new space transport vehicles. On January 11, the company achieved a milestone with the successful launch of the Gravity No. 1 carrier rocket, setting a new record for the world's largest solid launch vehicle and China's largest civilian and commercial rocket.

The funds raised in this financing round will be allocated towards research and development as well as production of the "Force-85" 100-ton liquid oxygen kerosene engine. Additionally, the investment will expedite the development of the "Gravity 2" medium and large recoverable liquid launch vehicle.