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China reusable rocket startup secures $31m in Series A round

Jiangsu DBA plans to follow SpaceX into commercial space

Jiangsu Deep Blue Aerospace Technology is developing reusable liquid-fuel rockets with an eye on launching commercial payloads. (Photo courtesy of the company)

BEIJING -- Chinese rocket startup Jiangsu Deep Blue Aerospace Technology has raised about 200 million yuan ($31 million) from Zhencheng Capital, DT Capital Partners and other investors in a Series A funding round.

In October, DBA successfully launched a rocket to a height of about 100 meters and landed it vertically. According to company founder Huo Liang, the fresh funding will be used to develop its Shenlan Nebula I liquid-fuel rocket, improve recovery and reuse technology, and hire talent.

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