Chinese firm Space Transportation raised more than $46.3 million for its hypersonic spaceplane plans in a new funding round announced Monday.
Space Transportation, full name Beijing Lingkong Tianxing Technology Co., Ltd., completed its third round of financing, securing more than 300 million yuan, according to a press release.
The funds will be used for development of commercial suborbital and hypersonic vehicles, with Space Transportation setting out a 10-year roadmap for development of its reusable vehicles. The company plans various large-scale technology verification flights through 2022 and aims for a first flight of a suborbital space tourism vehicle prototype in 2023, followed by a first crewed test in 2025.
A first “global” hypersonic vehicle flight is slated for 2028, with a full-scale global hypersonic vehicle flight will take place in 2030.
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