Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Xpeng Debuts New Car As China’s NEV Market Heats Up
Lenovo Still Top Dog in Global PC Market in First Quarter of 2021
Tesla Says Any Data It Collects in China Is Stored in the Nation
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development
Plus Accelerates Uptake of its Autonomous Truck Tech with Italian IVECO Deal
Trending in China: Farmer Given Suspended Jail Time For Felling Own Trees – Social Media Chimes In
‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing
Didi Reportedly Looking to List in U.S. as Soon as July
China’s NEV Sales Balloon in First Quarter on Strong Demand from Individual Consumers
Honor of Kings Beats PUBG Mobile as World’s Highest-Earning Mobile Game in March
Didi to Expand New Logistics Service From 8 to 19 Cities in China
China’s Li Auto Raises $750 Million Through Bond Sale to Fund Electric Car Development
Plant-Based Food Firm Beyond Meat to Open Plant Based in China
iFlyTek Hopes to Cash in on Pandemic Driven Demand for AI Services and Devices
Joint Alibaba and Russian Online Retailer AliExpress Plans IPO as Early as 2022: Report
Trending in China: ‘Easy to Buy, Hard to Redeem’ – Airline Pandemic Related Coupons Under Fire
Tesla Counters Spying Concerns Saying Car Cameras Not Activated Outside North America
Reinventing In-Car CB Radio or Cutting-Edge Tech? Clubhouse-Like Features Built into Xpeng Cars
Smart Projector and Laser TV Startup Xgimi Predicts Big Profits
Trending in China: Speculators or Trading Apps — Who’s to Blame for $7,000 Sneakers?
Satellite Startup Qiansheng Raises Fresh Capital as Space Race Intensifies

Ding Yi / Mar 08, 2021 04:59 PM / Business & Tech

Beijing-based commercial satellite developer Qiansheng Exploration Technology has raised more than 100 million yuan ($15 million) in its series A funding, becoming the latest space-related private startup to get new funds in recent months as Beijing aims to dethrone the U.S. as the world’s preeminent space power.

Proceeds from the round, which was led by the Fuzhou High-Tech Emerging Industry Development Fund, will be used for construction of its satellite constellation and smart satellite manufacturing plant, the company said in a statement on Friday.

Currently, 4-year-old Qiansheng is working on two satellite constellations made up of 20 commercial remote sensing satellites capable of providing high-definition images for applications including national defense, agricultural production, environmental monitoring and natural disaster relief, according to its website.

Amid a government call for deeper private sector involvement in its space ambitions, a growing number of domestic private satellite startups have found favor with outside investors, including government-backed investment funds.

In February, Beijing-based Commsat received an investment to accelerate its development of satellites and earth station terminals. Last November, Jilin-based Chang Guang completed pre-IPO funding to accelerate construction of its satellite constellation. Also in November, Beijing-based GalaxySpace secured fresh capital to bankroll its development of satellite internet technology, which uses satellites to provide high-speed internet services.

Contact reporter Ding Yi (

Related China Satellite Developer Gets State-Backed Investment


Share this article
Open WeChat and scan the QR code