Spacety raises $190 million to scale satellite manufacturing, plans IPO

HELSINKI — Chinese satellite maker Spacety has completed multiple rounds of equity financing worth $190 million to scale its vertically integrated satellite manufacturing and data services model.

Changsha-based Spacety announced the $190 million (1.3 billion yuan) funding in a statement April 9, with participants including Liangxi Sci-Tech Innovation Phase II Fund, managed by Bohua Capital, Turing Capital, Puhua Capital, Guoxin Guozheng, and Xiangjiang State Investment, primarily a mix of state-linked industrial funds and domestic venture capital firms.

The company said the financing will support its integrated "build-manage-use" satellite capabilities, focusing on scaling satellite manufacturing, accelerating data service commercialization, and strengthening full-chain integration across its value chain. Spacety also emphasized its alignment with China's national strategy to build a "space power" and broader efforts to drive self-reliance in space technology.