Titanium Media APP reported on May 20 that Oriental Space (Shandong) Technology Co., Ltd. has completed a 400 million yuan Series A financing. This round of financing was led by Shanxing Capital, with participation from CMBC International, Mihayou and other institutions. The financing will be used for the development and first flight of the "Gravity-1" medium-sized launch vehicle, while accelerating the development of a 100-ton reusable liquid oxygen and kerosene rocket engine. At present, Gravity-1 has successively completed a number of key tests such as the overall system, the attitude control system at the end of the repair, the joint adjustment of the avionics system, and the loading of the servo mechanism. At the same time, the first flight of the rocket has entered the commercial preparation process, and it is planned to launch in mid-2023. Strive to quickly become an important player in global commercial space launch.
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