The Chinese race for space is on

A senior iSpace executive tells FinanceAsia that the private rocket firm is preparing for a record-breaking launch in 2019.

iSpace, a Chinese rocket startup, hopes to catch the tailwinds of the excitement of this week's Chinese probe landing on the moon to launch its future fundraising.

Investors poured Rmb700 million $101 million into the company up to September last year, the company said about its A-plus round on Thursday.

Huo Jia, vice president of iSpace, told FinanceAsia that proceeds will be used for rocket engine development and to enhance adaptivity of the whole rocket.

He also said that iSpace plans to launch an orbital rocket in the first half of the year. It is a huge step forward...

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