LandSpace Funding, Investors & Competitors

LandSpace has raised $461M across 6 funding rounds, most recently a $124M undisclosed-stage round in December 2024.

Last LandSpace funding round

$124M

Undisclosed stage · Dec 2024

Cumulative funding LandSpace raised

$461M

across 6 funding rounds

Key investors in LandSpace

  • Country Garden Holdings
  • Goldwind
  • FounDream
  • Sequoia Capital
  • Matrix Partners
  • China Growth Capital
  • Lightspeed China Partners
  • Co-Stone Venture Capital

LandSpace Overview

About LandSpace

LandSpace is a Beijing-based commercial space launch provider developing reusable liquid-fueled rockets for the small-to-medium satellite market. The company manufactures Zhuque-series vehicles, including Zhuque-2 which achieved China's first private orbital launch in 2023 from Jiuquan Satellite Launch Center. LandSpace produces TQ-series methane engines with thrust levels up to 80 tons, supporting missions for telecommunications, Earth observation, and scientific payloads. As a member of the International Astronautical Federation, it operates test facilities in Zhejiang province for engine hot-fires and vehicle assembly.


Founded

2016

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Services

LandSpace Funding History

LandSpace has raised a total of $461M across 6 funding rounds.

LandSpace's first fundraising round was a $32M Series B in April 2018. The most recent completed round was a $124M undisclosed-stage round in December 2024.

LandSpace funding rounds

LandSpace funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2024Undisclosed stageNational Manufacturing Transformation and Upgrading Fund (lead)$124MLandSpace, a Chinese private space launch company, raised $123.33 million in a Series D funding round on December 25, 2024, with National Manufacturing Transformation and Upgrade Fund as the investor. This follows previous rounds including a Series C-II in 2020 for $175.57 million from multiple investors such as Co-Stone Venture Capital, Country Garden Venture Capital, HongShan, and Lightspeed China Partners. The company has attracted 32 investors overall and focuses on developing reusable rockets and satellite launch services in China's competitive space sector. LandSpace participated in secondary market and shareholder liquidity events in April 2025 totaling around $179 million, indicating ongoing investor interest post-Series D.
Sep 2020Series CSequoia Capital (lead); Lightspeed China Partners; Country Garden Holdings; Cedarlake Capital; Matrix Partners; National SME Development Fund; Gopher Asset Management; HT Capital$176MLandSpace is a Chinese aerospace startup focused on developing reusable rockets and methane-liquid oxygen engines for commercial space launches. The company participated in a Series C - II funding round on September 9, 2020, raising $175.57 million from a syndicate including Cedarlake Capital, Country Garden Venture Capital, Gopher Asset Management, Lightspeed China Partners, HongShan (Sequoia affiliate), and others such as Co-Stone Venture Capital, MPC, Gesheng Investment, Guozhong Venture Capital Management, Huzhou Saiyuan Government Fund, Joint Capital, Lakeside International, Lucion Venture Capital Group, RC Investments, and Yanfu Investment. Sequoia Capital is noted as the lead investor per query details, aligning with HongShan/Lightspeed participation. LandSpace has raised a total of approximately $485 million across multiple rounds by late 2024, indicating significant ongoing investor interest in its technology. Later rounds like Series D in December 2024 for $123.33 million reflect continued growth. The company's progress includes advancements in Zhuque-series rockets, positioning it as a key player in China's private space sector competing with entities like i-Space and Galactic Energy.
Dec 2019Series CCountry Garden Holdings (lead)$71MLandSpace Technology Co. is a Chinese company specializing in the research and development of liquid oxygen-methane carrier rockets. The 2019 investment aligns with Country Garden's efforts to diversify its portfolio amid its real estate operations. Subsequent rounds include a Series C - II in September 2020 raising $175.57 million from multiple investors including Country Garden Venture Capital, HongShan, Lightspeed China Partners, and others, and a Series D in December 2024 raising $123.33 million. In April 2025, Country Garden sold an 11.063% stake in LandSpace for approximately $180 million (1.31 billion yuan), recording a pre-tax profit of 370 million yuan, indicating significant appreciation since the 2019 investment. LandSpace continued raising capital through 2024 and a secondary market transaction in 2025 for $179.08 million, reflecting ongoing growth in China's commercial space sector.
Jan 2019Series BShanghai YISHENG Investment Management; Lucion$15M-
Nov 2018Series BChina Growth Capital (lead); Youshan Capital; FounDream; 36KR; Chung Tin Group; Zhongji Investment; Goldwind$43MLandSpace Technology Corporation Ltd., founded in 2015, is a Chinese private aerospace company specializing in the research, development, and operations of liquid-fuel rocket engines (LREs) and low-cost commercial launch vehicles targeting small and medium-scale commercial aerospace applications. The company focuses on products like the 80-ton liquid oxygen methane engine 'Tianque' (TQ-12), which completed short nozzle-state thrust chamber testing by September 2018, and the medium-sized liquid launch vehicle 'Zhuque-2' (ZQ-2), aiming for first launch in 2020. LandSpace operates research centers in Beijing and Xi'an, a manufacturing base in Huzhou, Zhejiang, and had around 200 employees by late 2018. On November 20, 2018, LandSpace closed its Series B+ funding round, raising ¥300 million RMB (approximately $43 million USD), led by China Growth Capital with participation from Zhongji Investment, 36Kr, Juzhuo Capital (also referred to as Youshan Capital), Goldwind, FoundDream (FounDream), and Chung Tin Group Holding (Chun Tin Group). This round brought the company's total funding to over ¥800 million RMB (~$115 million USD). The funds were allocated primarily to R&D for the TQ-12 engine and ZQ-2 rocket, as well as building a commercial aerospace ecosystem for development, production, and testing. LandSpace had previously raised a Series B round of RMB200 million in April 2018 led by Goldwind. The company achieved milestones like signing its first international launch contract with Denmark's GOMSpace in 2017 and planned whole-system engine testing in early 2019. LandSpace positioned itself amid China's growing private space sector, inspired by SpaceX, with over 60 firms entering in recent years and a global space market projected at $20-30 billion, expecting satellite launch growth.
Apr 2018Series BGoldwind (lead); FounDream; Guokai Ronghua; Co-Stone Venture Capital; YungPark Capital$32MLandSpace Technology, a Chinese private satellite launch company founded in 2015, develops methane-liquid oxygen powered rockets like Zhuque-2, with research centers in Beijing and Xi’an and a manufacturing base in Huzhou. In April 2018, it raised RMB 200 million (US$29 million) in a Series B round led by Goldwind Science & Technology via its subsidiary. Goldwind's subsidiary Jianghan Assets holds 4.14% of LandSpace shares from its 2018 investment, valued at 811 million yuan in Goldwind's 2025 mid-year report. Goldwind, a wind power leader, participated alongside affiliates, securing a 10% stake collectively as noted in IPO-related reports. LandSpace advanced commercial aerospace amid China's policy shifts, signing its first foreign launch contract with GOMSpace in 2017 and planning Zhuque-2 tests by 2019. By 2025, it pursued a STAR Market IPO, drawing attention from A-share investors like Zhangjiang Hi-tech (0.8452% stake) and Luxin Venture Capital (0.8006%), highlighting ecosystem growth.

Who has invested in LandSpace?

21 investors have backed LandSpace across its funding rounds, including Country Garden Holdings, Goldwind, FounDream, Sequoia Capital, Matrix Partners and China Growth Capital.

Lead investors include National Manufacturing Transformation and Upgrading Fund, Sequoia Capital, Country Garden Holdings, China Growth Capital and Goldwind.


LandSpace Investors

Investors in LandSpace by funding rounds participated
InvestorHQRoundsRoleFirst check
Country Garden HoldingsChinaChina2LeadDec 2019
FounDreamChinaBeijing2ParticipantApr 2018
GoldwindChinaBeijing2LeadApr 2018
Lightspeed China PartnersChinaShanghai1ParticipantSep 2020
Shanghai YISHENG Investment ManagementChinaShanghai1ParticipantJan 2019
Youshan CapitalChinaBeijing1ParticipantNov 2018
Cedarlake CapitalChinaShanghai1ParticipantSep 2020
LucionChinaJinan1ParticipantJan 2019
Guokai Ronghua--1ParticipantApr 2018
Matrix PartnersUnited StatesBoston, MA1ParticipantSep 2020
36KRChinaChina1ParticipantNov 2018
Sequoia CapitalUnited StatesSan Francisco, CA1LeadSep 2020
Chung Tin GroupChinaShenzhen1ParticipantNov 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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LandSpace Competitors

LandSpace 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 LandSpace
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

LandSpace Public Comps

LandSpace 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

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Common questions about LandSpace

When was LandSpace founded?LandSpace was founded in 2016.
Where is LandSpace headquartered?LandSpace is headquartered in Beijing, China.
Is LandSpace publicly listed?No, LandSpace is a private, VC-backed company.
How much funding has LandSpace raised?LandSpace has raised $461M across 6 funding rounds.
What was LandSpace's last funding round?LandSpace's last funding round was a $124M undisclosed-stage round in December 2024, led by National Manufacturing Transformation and Upgrading Fund.
Who are LandSpace's investors?LandSpace's investors include Country Garden Holdings, FounDream, Goldwind, Lightspeed China Partners, Shanghai YISHENG Investment Management, Youshan Capital, Cedarlake Capital, Lucion, Guokai Ronghua, Matrix Partners and 11 others.
Which companies are comparable to LandSpace?Companies comparable to LandSpace include SpaceX, Lockheed Martin, Northrop Grumman, Rocket Lab, Stoke Space and Agile Space Industries.

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