China’s Space Pioneer raise funding for its Falcon 9-class rocket

News Snapshot:

HELSINKI — Chinese commercial launch firm Space Pioneer has announced a new round of funding for development of the Tianlong-3 rocket comparable to the SpaceX Falcon 9. Space Pioneer—full name Beijing Tianbing Technology Co., Ltd—announced the “C+” funding round worth “several hundred millions yuan,” Oct. 25 (100 million yuan = $13.7 million). This 12th round of funding will go towards completing the Tianlong-3 rocket which is to be capable of lifting 17 tons to low Earth orbit (LEO), according to a company press statement. The funds will also be used for production of the smaller Tianlong-2, which had a successful...