Founded in 2015, LandSpace is China’s first private aerospace company dedicated to developing liquid oxygen-methane launch vehicles. Since its inception, LandSpace has followed a classic hard-tech startup financing trajectory. In its early days, the company relied on founders’ personal capital and angel investments. It raised tens of millions of RMB in a Pre-A round in 2017, led by prominent venture capital firms. In 2018, it secured hundreds of millions in Series A funding to develop and launch its solid-fuel Zhuque-1 rocket. Although the maiden flight failed to reach orbit, the technical experience paved the way for its shift to liquid oxygen-methane propulsion. Between 2019 and 2021, LandSpace completed consecutive Series B, B+, and C rounds, raising over RMB 2 billion, with backing from top-tier investors including Sequoia China, Country Garden Venture Capital, and Matrix Partners China. In 2023, following the successful orbital launch of Zhuque-2—the world’s first methane-fueled rocket to achieve orbit—LandSpace’s valuation surged, leading to a nearly RMB 1 billion Series D round. Over the past decade, LandSpace has evolved from a small startup into a leading commercial space player with end-to-end launch capabilities, reflecting both investor confidence in China’s commercial aerospace sector and the industry’s critical transition from experimentation to breakthrough.
蓝箭航天（LandSpace）成立于2015年，是中国首家专注于液氧甲烷运载火箭研发的民营航天企业。自成立以来，蓝箭航天走出了一条典型的硬科技创业融资路径。早期阶段，公司依靠创始团队自有资金和天使投资起步；2017年完成数千万元Pre-A轮融资，由知名风投机构领投。2018年，蓝箭获得数亿元A轮融资，用于朱雀一号固体火箭的研制与发射尝试。尽管首飞未入轨，但其技术积累为后续液氧甲烷路线奠定基础。2019年至2021年，蓝箭连续完成B轮、B+轮及C轮融资，累计融资超20亿元人民币，投资方包括红杉中国、碧桂园创投、经纬中国等一线机构。2023年，随着朱雀二号成为全球首款成功入轨的液氧甲烷火箭，蓝箭估值迅速攀升，并完成近10亿元D轮融资。十年间，蓝箭航天从初创团队成长为具备自主研制、发射能力的商业航天领军者，其融资历程不仅反映了资本市场对商业航天赛道的信心，也体现了中国民营航天从探索到突破的关键跃迁。
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