Jiangsu Deep Blue Aerospace Completes Series B2 Financing for Recyclable Rocket Development
TapTechNews July 31st news, Jiangsu Deep Blue Aerospace Co., Ltd. announced today that the company has successfully completed the Series B2 round of financing to fully accelerate the technological innovation of recyclable rockets and the commercialization process of the Xingyun-1 (hereinafter referred to as Xingyun-1) recyclable and reusable rocket. The Wuxi High-tech Zone Investment Control Group led this round of financing and became a cornerstone investor in multiple rounds, completing and locking in nearly 1 billion RMB.
In May this year, Deep Blue Aerospace announced the successful completion of the Series B and Series B1 rounds of financing, obtaining several hundred million RMB in funds injection. Now, two months later, it has obtained the Series B2 round of financing again.
According to the introduction, the funds of the Series B2 round will mainly be used to strengthen technological research and development, expand the production scale, optimize the supply chain management, and accelerate the marketing promotion. It is worth noting that the more than 20,000-square-meter Deep Blue Aerospace Rocket Intelligent Manufacturing Assembly Base is located in the Wuxi High-tech Zone, with the Beijing-Hangzhou Grand Canal as the background to accelerate the expansion of the rocket industry cluster along the canal. The Deep Blue Aerospace Rocket Canal Factory will become a demonstration base for high-end manufacturing and commercial rocket industry in the Wuxi High-tech Zone.
The canal factory will mainly be used for the mass production work of the Xingyun-1 and Xingyun-2 rockets. The Xingyun-1 rocket is planned to make its first flight this year, and currently, the first flight preparation work of the Xingyun-1 rocket is in full swing. The Xingyun-2 rocket, which is planned to make its first flight by the end of 2025, will have a takeoff scale of 1,000 tons and also has the ability to be recycled and reused.
The Xingyun-2 first flight rocket is also a 2-stage configuration, with a diameter of 5 meters, and the near-earth orbit payload capacity is increased to 20 tons, equipped with 10 Super Thunder liquid oxygen kerosene engines.
