(Yicai Global) Sept. 1 -- Chinese commercial satellite startup Beijing Commsat Technology Development broke ground on a new factory today able to build 100 satellites in the 100-kilogram class per year after its completion in early 2021, The Paper reported.
Formed in 2015, Commsat has already sent eight of its self-developed orbiters into space. The satellites can be used to enhance mobile communication capabilities in airborne, space and maritime applications.
The company has meanwhile started a B+ round of funding as the new factory in East China’s Hebei province has started construction, said co-founder Peng Yuanyuan. The company has already secured a total of CNY500 million (USD73 million) in six previous funding rounds, she added.
Editor: Ben Armour