Deep Blue Aerospace nets over RMB100m in Pre-A financing round

Chinese private rocket company Deep Blue Aerospace announced the completion of the Pre-A round of financing of more than 100 million yuan. This round was led by Zhonghuijin Group, with participation from Captain Group and Jiayi Fund.

Chinese private rocket company Deep Blue Aerospace announced the completion of the Pre-A round of financing of more than 100 million yuan. This round was led by Zhonghuijin Group, with participation from Captain Group and Jiayi Fund.

Deep Blue Aerospace said that proceeds from this round of financing will mainly be used for core R&D team construction, vertical recovery technology verification and in-depth testing of liquid oxygen kerosene rocket engines.

Established in 2017, Deep Blue Aerospace is a developer of carrier rockets and liquid rocket engines intended to significantly reduce the cost of human access to space through technological innovation. The company’s rocket engines consist of 50 tons of liquid oxygen and use low earth orbit technology, enabling clients to reduce their cost of production and earn profits.

Deep Blue Aerospace had completed a tens of millions of yuan seed financing round led by Shunwei Capital with participation from K2VC and Zhizhuo Capital in January 2019.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/09/deep-blue-aerospace-nets-over-rmb100m-in-pre-a-financing-round/.

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