Jianqi Technology closes angel round, bringing total funding to RMB 200 million for the Hujian-1 rocket
Commercial rocket company Jianqi Technology has closed an angel round, bringing its total funding to RMB 200 million, which will go to developing its second-generation reusable rocket Hujian-1 and building a rocket factory in Shanghai.
According to a report relayed by Commercial Aerospace Development, Jianqi Technology recently announced it has closed its angel round series. Since its founding in January this year, the company has completed three rounds, seed, pre-angel and angel, raising RMB 200 million in total.
The angel round was led by the Shanghai Future Industry Fund, with Yuanhe Puhua, Century Golden Resources and Bi'an Shidai participating; the earlier pre-angel round was led by Chuanxiang Capital with Renjun Capital participating.
The funds will go mainly to two areas: overall development of Hujian-1, which the company calls China's first second-generation reusable rocket, and construction of a rocket factory in Shanghai.
Our take: Jianqi Technology has completed three rounds in less than a year since its founding and has committed the money to reusable-rocket development and manufacturing facilities, showing continued investor interest in Chinese commercial rocket technology routes.
(Figures: the RMB 200 million total is single-sourced and could not be independently verified.)