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Story summary
- SpaceSail raised about 7 billion yuan (~US$1 billion) in a record Series B round.
- Eighteen investors, including Shanghai Alliance Investment and CAS Star, acquired about 13.94% equity, valuing SpaceSail at 50 billion yuan.
- SpaceSail’s Qianfan constellation operates around 200 satellites after its early-July launch.
- The company plans to deploy up to 15,000 satellites to challenge SpaceX’s Starlink, despite reporting a 100 million yuan Q1 2026 loss.
