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BEIJING, January 16 (TMTPOST) —— Minospace Technology, a Chinese commercial satellite manufacturer, has secured nearly CNY400 million (USD59.4 million) in B and B+ Round Financing, according to the announcement made by this company on Monday.

Major investors include Yuexiu Industrial Fund and Zero2IPO FOFs.

Founded in August 2017, Minospace focuses on the R&D, design, and manufacturing of high-end satellites, and is committed to providing customers with one-stop satellite system technology solutions from satellite design, manufacturing, and on-orbit delivery to communication ground terminals and stations.

In particular, MinoSpace is scaling its operations to meet both national demand from Chinese satellite developers and offering its range of platforms internationally, from CubeSats to 1,000 kg craft. MinoSpace has completed 6 space missions, with 8 satellites up to 75 kg launched since it was founded.

The founder of the company, Gao Enyu, graduated from the School of Astronautics and Astronautics of the Beijing Institute of Technology and the Department of Aeronautics and Astronautics of Pennsylvania State University in the United States. He used to work in the First General Design Department of China Academy of Launch Vehicle Technology and the General Department of Communication and Navigation Satellites of China Academy of Space Technology.

As of the end of 2022, the company completed a total of five rounds of financing before this round was announced.

MinoSpace was born out of the professional team of the Fifth Academy of Aerospace Science and Technology, with full-stack satellite development capabilities and rich experience in commercial satellite delivery, and the delivered remote sensing satellites have the imaging ability of 0.5M resolution images, making MinoSpace a leading satellite development enterprise in China.

In terms of products, a total of 7 satellites were successfully launched by MinoSpace in 2022. Last Friday, the test 22B satellite developed based on the company"s self-developed satellite platform was also successfully launched in Jiuquan. So far, the total number of satellites launched by MinoSpace has reached 17.