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SpaceSail has raised 1 billion USD in its Series B round to accelerate the buildout of a low-Earth-orbit satellite network to compete with Starlink. The funding round saw participation from 18 investors including Shanghai Alliance Investment and CAS Star.

PRIVATEAug 20, 2026•about 4 hours ago

Amount Raised

$1 Billion

Round Type

Series B

ShanghaiHardwareAerospaceInternetSatellite Communication

Investors

Cas StarShanghai Alliance Investment

Description

SpaceSail completed its Series B funding round, raising around 7 billion yuan (US$1 billion) to enhance China's satellite internet capabilities. The funding will support the construction of a low-Earth-orbit network aiming to rival Elon Musk’s Starlink. With this round, the company's valuation has reached about 50 billion yuan. This marks a significant milestone in China's efforts to develop large-scale satellite networks.

Company Information

Company

SpaceSail

Location

Shanghai, China

About

SpaceSail, officially known as Shanghai Spacecom Satellite Technology, is a domestic start-up in China focused on building a low-Earth-orbit (LEO) satellite network to provide broadband internet. Founded in 2018, it has rapidly expanded its satellite operations, launching 54 satellites in 2024 and currently operating 238 Qianfan satellites. The company aims to compete with Elon Musk's Starlink project in the satellite internet market.

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Funding Insights

Based on industry data
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

SpaceSail raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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