iSpace Secures Funding for Hyperbola-3 Reusable Rocket Development, Targeting First Launch in December

Chinese commercial launch company iSpace has obtained new Series D funding, worth several hundred million yuan ($13.8 million), to advance the development of its Hyperbola-3 reusable rocket. The funding, led by the Sichuan Tianfu Xinyun Digital Economy Development Fund, will support research and development of the methane-liquid oxygen rocket, the construction of a test bench for the Focus series engine, and an engine production line in Mianyang, Sichuan province. The company aims for a first orbital launch with a sea recovery attempt of the first stage in December, followed by a reuse test flight in June 2026. The two-stage Hyperbola-3 is designed to carry 8,500 kg to low Earth orbit in reusable mode and 13,400 kg in expendable mode. iSpace aims to join competitors like Landspace and Space Pioneer in developing reusable rockets, aligning with China's strategic goal to reduce launch costs and increase launch frequency for planned communications megaconstellations. iSpace previously achieved orbit in 2019 with its Hyperbola-1 rocket, but has since experienced mixed results. The Hyperbola-3 represents a significant step towards reusable access to space.