With a successful launch from the Gobi Desert blasting off at around 1:10 PM Beijing time( 1:10 AM ET ), Chinese space open startup ispace( which, awesomely, is also announced StarCraft Glory Space Technology Co .) became the first private Chinese commercial cavity launching provider. The company’s SQX-1 Y1 rocket delivered two commercial-grade spacecrafts to an trajectory of about 300 km( about 186 miles) above Earth.
The launch is the first successful commercial goal for the SQX-1 Y1 solid-propellant rocket developed by ispace, which is a four-stage design that can carry up to 260 kg( around 575 lbs) and values around 68,000 lbs.
This is a major milestone for the Chinese room industry, and ispace hits out a healthful harvest of adversaries, including LandSpace and OneSpace, both of which did not succeed in earlier attempts to be the first in China to the private launching market.
Founded in October 2016, ispace stuck a Series A funding round of an undisclosed sum in June, including investment from CDH Investment, Matrix Partners China and Shunwei Capital. The busines completed sub-orbital flights in 2018 as precursors to the SQX-1 Y1 rocket.
Read more: techcrunch.com