Shanghai Spacecom Satellite Technology raises $1.94B Series B
What's the deal? Shanghai Spacecom Satellite Technology has raised 7 billion yuan ($1.94 billion) in a Series B round, valuing the Chinese commercial satellite operator at roughly $6.96 billion. The financing was announced in August 2026.
What's the endgame? The money supports China's push to build a domestic low-Earth-orbit communications constellation to rival SpaceXDealroom has a profile for this one. Try Dealroom →'s StarlinkDealroom has a profile for this one. Try Dealroom →. Spacecom aims to serve both China's large home market and overseas customers seeking alternatives to the US-based network.
Why now? Chinese lenders and investors are chasing the country's commercial-space boom, and Spacecom — behind the SpacesailDealroom has a profile for this one. Try Dealroom → constellation — has been seeking fresh funding to accelerate its build-out.
The signal: The round ranks among the largest of its kind: it sits in the top 1% of all Series B deals in China's telecom sector on record, out of a sample of 188. That scale underlines how much capital the country is willing to commit to closing the gap with Starlink.
Read more: Caixin Global
Image credit: NASA Goddard Photo and Video
