AVIC invested in the CAS-backed industrial internet-of-things satellite operator Commsat's latest round to bring its overall funding to $68.2m.
Commsat, a China-based commercial satellite operator backed by Chinese Academy of Sciences, has secured RMB270m ($38m) of series B funding from investors co-led by aerospace manufacturer Aviation Industry Corporation of China, China Money Network reported yesterday.
Asset management firm Beijing Wealth Capital co-led the round. Aviation Industry Corporation of China participated through an unnamed subsidiary of its venture capital arm Avic Capital.
Founded in 2015, Commsat hopes to build a network of low-orbit satellites to provide high-speed communications…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
