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Shanghai Spacecom Satellite Technology / Private Capital Markets

Shanghai Spacecom Satellite Technology (SSST123 CH)

<ul><li>Shanghai Spacecom Satellite Technology, a space tech startup backed by the Shanghai municipal government, has raised 6.7 billion yuan ($943 million) to fund the construction of a low-orbit satellite constellation that will provide broadband access to the internet</li><li>The Series A funding round was led by Shanghai Alliance Investment Ltd., an investment fund backed by the Shanghai government and a founding investor of Spacecom.</li><li><p>Other investors include CAS Investment Management Co. Ltd., Hengxu Capital, Guotai Junan Securities Co. Ltd. and CAS Star.</p></li></ul>

Shanghai Spacecom Satellite Technology, a space tech startup backed by the Shanghai municipal government, has raised 6.7 billion yuan ($943 million) to fund the construction of a low-orbit satellite constellation that will provide broadband access to the internetThe Series A funding round was led by Shanghai Alliance Investment Ltd., an investment fund backed by the Shanghai government and a founding investor of Spacecom.Other investors include CAS Investment Management Co. Ltd., Hengxu Capital, Guotai Junan Securities Co. Ltd. and CAS Star.

Chinese Startup Raises $943 Million to Fund Race with Starlink 