Space computing is really hot, a startup has completed 3 funding rounds in 3 months.

As Orbit Chenguang recently announced the completion of a new round of financing, this space-computing-power “star” startup has, within 3 months, announced the completion of 3 rounds of financing. Both the financing tempo and the amounts are uncommon in the industry.

In late April, Orbit Chenguang announced the completion of its PreA1 round of equity financing. At the same time, the company also made major progress in debt financing: it signed strategic credit agreements or obtained letters of intent for credit with multiple banks, with a total amount of 577 billion yuan RMB.

The PreA1 round financing for Orbit Chenguang was jointly participated in by multiple institutions, including Haisong Capital, CITIC Jiancheng Investment, Qihui Fund, InnoAngel Fund, Anhui Xinhua Group, Zhike Industrial Investment, Kunlun Capital, Lize Fund, and others. The credit banks include Bank of China, Agricultural Bank of China, Bank of Communications, Pudong Development Bank, CITIC Bank, China Merchants Bank, and others.

In late May, Orbit Chenguang received joint investment from the Beijing Municipal Artificial Intelligence Industry Investment Fund, the Beijing Municipal Commercial Aerospace and Low-Altitude Economy Industry Investment Fund, the Capital Science & Technology Development Group venture capital fund, and the Zhongguancun Science City achievements transformation fund.

In the new round of financing recently completed by Orbit Chenguang, investors include BV Baidu Ventures, Gongrong Shunxi, CCB Beijing, Guoke Investment, Yida Capital, Huaqing Capital, Feitu Venture Capital, and others.

Orbit Chenguang is the first industry project incubated and implemented by the Beijing Stars Future Space Technology Research Institute. It was established at the end of 2024 and is a hard-tech company still in the engineering verification stage. Zhang Shanchong, Chairman and Chief Scientist of Orbit Chenguang, is also the Director of the Beijing Stars Future Space Technology Research Institute. The Beijing Stars Future Space Technology Research Institute is the entity that controls Orbit Chenguang.

The company’s core mission is to launch and deploy computing-power satellites in Earth’s dawn-dusk orbit, forming a space data center. By leveraging the heat-dissipation conditions of space solar energy and the extremely cold background radiation of the universe, and operating 7×24 uninterruptedly with no atmospheric obstruction, the company develops space intelligence. It is committed to providing space-based computing power services to users worldwide and achieving “sky data to sky computing” and “ground data to sky computing.”

As shown by the controlling shareholder and the financing background, Orbit Chenguang’s strategic layout is closely tied to the Beijing Space Data Center. The aforementioned constellation is Beijing’s first computing-power constellation supported for R&D. The first computing-power experimental satellite of the constellation, “Chenguang No. 1,” has been jointly built by an innovation consortium consisting of Orbit Chenguang and 24 enterprises and research institutions. It has already been developed and is expected to be launched in the first half of this year, when an opportune time arises.

At the end of 2025, units including the Beijing Municipal Commission of Science and Technology and the Zhongguancun Administrative Committee organized and held a “work promotion meeting on the construction of space data centers,” which released a construction plan for space data centers. The plan proposes building and operating a centralized large-scale data center system with power exceeding GW in Earth’s dawn-dusk orbit at 700—800 kilometers. The system consists of subsystems for space computing power, relay transmission, and ground control. The space computing power subsystem plans to deploy multiple space data centers; each has power of about 1GW and can accommodate server clusters at the million-card scale, carrying out space-based data relay transmission and computing services.

At the promotion meeting, Zhang Shanchong introduced that the construction is planned to be divided into 3 phases: from 2025 to 2027, break through key technologies such as energy and heat dissipation for space data centers, iterate and develop experimental satellites, and build the first-phase computing-power constellation, with a planned total power of 200KW and a computing-power scale of 1000POPS, to achieve the application goal of “sky data to sky computing”; from 2028 to 2030, break through key technologies such as on-orbit assembly and construction of space data centers, reduce construction and operation costs, and build the second-phase computing-power constellation to achieve the application goal of “ground data to sky computing”; from 2031 to 2035, carry out large-scale batch production of satellites and launch them by networking, and complete on-orbit docking to build large-scale space data centers, supporting future “space-based primary computing.”

Gong Weimi, Deputy Director of the Beijing Municipal Commission of Science and Technology and the Zhongguancun Administrative Committee, had previously said that, as an important information infrastructure, space data centers are an important strategic intersection direction in the fields of commercial aerospace and artificial intelligence. Space data centers will become one of the key planned directions in the construction of the Beijing International Science and Technology Innovation Center; Beijing will increase support for them and accelerate the layout and construction.

Source: Shanghai Securities News

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