Launch preparations for Gravity-1 aboard the Defu-15002 sea platform. Credit: Orienspace
HELSINKI — Commercial launch company Orienspace has kicked off preparations for an IPO coaching process while closing a funding round for accelerating its reusable Gravity-2 rocket.
The Shandong-based company, formally known as Orienspace (Shandong) Technology Co., Ltd., announced the pre-C round worth several hundred million yuan (100 million yuan = $14.8 million) Aug. 5, with participation from investors including Vertex Capital, Shanghai STVC, AVIC Honghua, and Yuanyou Ruize.
Orienspace said the funds will go toward research, development and production of Gravity-2, a large liquid-propellant reusable rocket the company is positioning as a contribution to China’s required capabilities to get megaconstellation projects deployed in orbit.
Gravity-2 is a two-stage reusable liquid propellant launcher with a length of 70 meters, a diameter of 4.2 meters and capable of carrying 21,500 kilograms to low Earth orbit (LEO) when the first stage is expended, or 17,000 kg when recovered. The capacity to 500 km sun-synchronous orbit (SSO) is 15,000 kg and 11,900 kg respectively. The first stage is powered by nine Force-110 kerosene-liquid oxygen engines.
