HELSINKI — Astronstone, one of China's younger launch startups, has secured new funding as it builds toward the first flight of its reusable AS-1 rocket.
Astronstone's "Pre-A+" funding round was led by investment firm Hillhouse Capital and Xingxiang Capital, affiliated with the Hunan provincial government.
The funding will be used for rocket final assembly and testing, validation of "chopstick" recovery technology, expansion of rocket production capacity and team growth, according to the company statement.
