Chinese launch startup Orienspace secures $83.5 million

News Snapshot:

HELSINKI — Chinese launch firm Orienspace announced a series B funding round shortly after its successful debut launch, as China moves to nurture its growing commercial space ecosystem. Orienspace announced the funding round worth nearly 600 million yuan ($83.5 million) Jan. 24. Investors include Liangxi Science and Technology Innovation Industry Fund of Funds, Hongtai Fund, Xin Ding Capital, CMBC International Holdings, Shanhang Capital and Shenyin & Wanguo Investment. The funds will be used for research and development of its first liquid propellant rocket. The 60-meter-tall, 4.2-meter-diameter Gravity-2 will use nine 100-ton-thrust Yuanli-85 gas generator, variable thrust kerosene engines for the...