Chinese launch firm Space Pioneer has secured C-round funding for its Tianlong-3 medium-lift Reusable Rocket launch vehicle. The company announced the funding round on July 5, 2023. The amount of funding was not disclosed, but Space Pioneer said it would use the money to develop the Tianlong-3 rocket and to prepare for its first launch, which is scheduled for 2024.
Space Pioneer is a private company founded in 2018. It is the first Chinese commercial launch firm to reach orbit with a liquid propellant rocket. The company’s Tianlong-2 rocket made its first successful launch in April 2023.
The Tianlong-3 rocket is designed to be a medium-lift reusable launch vehicle. It will be capable of carrying up to 10 tons of payload to low Earth orbit. The rocket is expected to be more cost-effective than traditional expendable rockets.
The funding for the Tianlong-3 rocket comes at a time when China is investing heavily in its space program. The country is planning to launch a manned mission to the moon in 2024 and a crewed space station in the coming years.
The development of reusable rockets is seen as a key technology for reducing the cost of space launches. SpaceX, the American private space company founded by Elon Musk, has been a pioneer in the development of reusable rockets. The company’s Falcon 9 rocket is the first reusable orbital launch vehicle.
The funding for the Tianlong-3 rocket is a sign that China is committed to developing its own reusable launch vehicle technology. The success of the Tianlong-3 rocket could help China to become a major player in the global space launch market.
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