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One Space completed B round financing of 300 million yuan ($43.8 million) on 12th August.

One Space Technology completed B round financing of 300 million yuan ($43.8 million) on Sunday.

The funding was led by CICC Jiatai (Tianjin) Equity Investment Fund and followed by FinTrek Capital while its shareholders like China Merchants Innovation Investment Management Co increased investment, read a press release the firm sent to the Global Times.

Founded in August 2015, OneSpace has secured four rounds of financing, raising about 800 million yuan.

OneSpace CEO Shu Chang said that the funds will be used in the research and manufacturing of the company's OS-X and OS-M series rockets, industrial upstream and downstream layout, intelligent manufacturing base construction and building a team of talented staff, according to the press release.

OneSpace plans two launches by the end of this year. It is expected to achieve annual production capacity of more than 30 OS-M series rockets and 20 or more OS-X series rockets by 2020, Shu said.

 

 


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