CAS Space Funding, Investors & Competitors

CAS Space has raised $127M across 3 funding rounds, most recently a $8M Series A in April 2024.

Last CAS Space funding round

$8M

Series A · Apr 2024

Cumulative funding CAS Space raised

$127M

across 3 funding rounds

Key investors in CAS Space

  • CAS Star
  • Guangzhou Yuexiu Industrial Investment Fund
  • CAS Investment Management
  • V Fund Management
  • Guangzhou Industrial Investment Group
  • China Galaxy Investment Management
  • Ren Capital
  • China Chengtong Holding Group

CAS Space Overview

About CAS Space

CAS Space is a Harbin-headquartered Chinese aerospace company offering commercial launch services. As a mixed-ownership entity under the China Aerospace Science and Industry Corporation, it develops the Kinetica series of liquid-fueled rockets for small satellite deployments to low Earth orbit.


Founded

2018

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Services

CAS Space Funding History

CAS Space has raised a total of $127M across 3 funding rounds.

CAS Space's first fundraising round was a $31M Series B in May 2021. The most recent completed round was a $8M Series A in April 2024.

CAS Space funding rounds

CAS Space funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2024Series AChina Galaxy Investment Management (lead)$8MCAS Space completed a Series C-II funding round of $8.29 million on April 12, 2024. China Galaxy Investment Management participated as an investor in this round. The company has raised a total of approximately $126.12 million across six rounds from 16 investors. Prior rounds include a Series C of $86.9 million on April 24, 2023, led by investors such as Capital Operation Holding Group, Guangzhou Industrial Investment, CAS Capital, and CAS Investment Management.
Apr 2023Series CChina Chengtong Holding Group (lead); Guangzhou Industrial Investment Group (lead); CAS Capital; CAS Investment Management$87MCAS Space, also known as Zhongke Yuhang, is a Chinese commercial spaceflight company focused on developing launch vehicles and space services. It secured a Series C funding round of $86.9 million (600 million yuan) on April 24, 2023, led by China Chengtong Holding Group (also referred to as Capital Operation Holding Group) and Guangzhou Industrial Investment Group, with participation from CAS Capital and CAS Investment Management. This matches the specified investors and approximate date of April 23, 2023. The round represents a significant investment in China's growing commercial space sector, where CAS Space aims to advance its reusable rocket technologies and satellite launch capabilities. Prior to this, the company had completed multiple earlier rounds, including Series A and B stages, contributing to a total raised of approximately $117.83M to $126.12M across 5-6 rounds as of the latest updates. No details on use of funds were specified in available reports. No traction metrics such as revenue, ARR, EBITDA, user counts, or launch volumes near the round date appear in the sources. Valuation information is absent; sources note that valuations are typically submitted by companies or derived from filings/news but none provided here. Competitive context in China's space industry involves state-backed entities and private players racing for orbital launch dominance, though specifics for CAS Space are limited. Post-round developments include a follow-on Series C - II round of $8.29M on April 12, 2024, indicating continued investor interest amid sector challenges like valuation declines in private space markets during 2023.
May 2021Series BGuangzhou Yuexiu Industrial Investment Fund; Ren Capital; CAS Star; V Fund Management$31M-

Who has invested in CAS Space?

9 investors have backed CAS Space across its funding rounds, including CAS Star, Guangzhou Yuexiu Industrial Investment Fund, CAS Investment Management, V Fund Management, Guangzhou Industrial Investment Group and China Galaxy Investment Management.

Lead investors include China Galaxy Investment Management, China Chengtong Holding Group and Guangzhou Industrial Investment Group.


CAS Space Investors

Investors in CAS Space by funding rounds participated
InvestorHQRoundsRoleFirst check
CAS CapitalJapanTokyo1ParticipantApr 2023
China Galaxy Investment ManagementChinaBeijing1LeadApr 2024
China Chengtong Holding GroupChinaBeijing1LeadApr 2023
Guangzhou Yuexiu Industrial Investment FundChinaGuangzhou1ParticipantMay 2021
CAS Investment ManagementChinaBeijing1ParticipantApr 2023
Ren CapitalChinaShenzhen1ParticipantMay 2021
CAS StarChinaXi'an1ParticipantMay 2021

This data is available for Pro users. Sign up to see all 9 CAS Space investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

CAS Space Competitors

CAS Space competitors include listed companies like SpaceX, Lockheed Martin, Northrop Grumman and Rocket Lab, and private ones like Stoke Space and Agile Space Industries.

Public and private companies comparable to CAS Space
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SpaceXUnited StatesUnited StatesPublicly listed$19B$3.9B$2.0T-
Lockheed MartinUnited StatesUnited StatesPublicly listed$75B$8.7B$124B1.8x
Northrop GrummanUnited StatesUnited StatesPublicly listed$42B$7.2B$74B2.0x
Rocket LabUnited StatesUnited StatesPublicly listed$602M($181M)$43B48.0x
Stoke SpaceUnited StatesSeattle, WAPrivate--$9B-
Agile Space IndustriesUnited StatesDurango, COPrivate$28M-$8B285.7x

CAS Space Public Comps

CAS Space is still privately-owned, but its public comps include SpaceX, GE Aerospace, RTX, Airbus, Rolls-Royce, Safran, Boeing, Lockheed Martin, Parker Hannifin and General Dynamics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SpaceX$19B$3.9B106.0x-503.3x-
GE Aerospace$46B$11B7.3x7.0x30.2x29.1x
RTX$89B$15B3.3x3.1x19.7x19.4x
Airbus$85B$11B2.1x1.9x16.0x14.3x
Rolls-Royce$28B$11B5.5x5.2x14.8x22.4x
Safran$36B$13B4.3x3.8x11.5x17.6x
Boeing$89B$7.4B2.0x1.9x24.7x37.2x
Lockheed Martin$75B$8.7B1.9x1.8x16.1x13.1x

This data is available for Pro users. Sign up to see all CAS Space competitors and their valuation data.

Start Free Trial

Common questions about CAS Space

When was CAS Space founded?CAS Space was founded in 2018.
Where is CAS Space headquartered?CAS Space is headquartered in Beijing, China.
Is CAS Space publicly listed?No, CAS Space is a private, VC-backed company.
How much funding has CAS Space raised?CAS Space has raised $127M across 3 funding rounds.
What was CAS Space's last funding round?CAS Space's last funding round was a $8M Series A in April 2024, led by China Galaxy Investment Management.
Who are CAS Space's investors?CAS Space's investors include CAS Capital, China Galaxy Investment Management, China Chengtong Holding Group, Guangzhou Yuexiu Industrial Investment Fund, CAS Investment Management, Ren Capital, CAS Star, V Fund Management and Guangzhou Industrial Investment Group.
Which companies are comparable to CAS Space?Companies comparable to CAS Space include SpaceX, Lockheed Martin, Northrop Grumman, Rocket Lab, Stoke Space and Agile Space Industries.

See companies similar to CAS Space

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial