Xinjiang Communications Construction Group and New World Strategic Investment both contributed to a $21.4m round for the satellite system developer.
China-based satellite technology developer ADASpace has closed a RMB150m ($21.4m) series A-plus round featuring infrastructure firm Xinjiang Communications Construction Group and property developer New World, China Money Network reported yesterday.
Investment firms Aplus Capital and Galaxy Holding Group co-led the round, which was also backed by venture capital firm Shenzhen Capital Group, while New World contributed to the round through its New World Strategic Investment vehicle.
ADASpace provides satellite design and data services and is developing an artificial intelligence-equipped satellite…
