Chinese rocket engine startup Space Circling secures funding

News Snapshot:

HELSINKI — Chinese launch firm Space Circling has secured more than 100 million yuan ($13.9 million) in funding to back its work on innovative engines to power commercial space activities. Space Circling, also known as Shaanxi Tianhui Aerospace Technology Co., Ltd., secured the funding in December last year and announced the Series A funding Feb. 18. Strategic investors including Changsha Kaifu District Zhongxin High-tech Fund, Mianyang Kefa Fund, Xi’an Fulao Fund, SIRI New Materials and Xi’an Talent Fund participated in the round. The latter is a local government-backed policy guidance fund. Such funds are used to deploy capital to strategic...