LandSpace
Develops and launches medium-to-large liquid oxygen-methane reusable rockets (Zhuque series) with metal additive manufacturing for critical engine components, reducing production cycles and enabling rapid design iteration.
- CEO / Founder
- Changwu Zhang
- Team Size
- 1001-5000
- Stage
- Established
- Total Funding
- $485M
- Latest Round
- Pre-IPO
- Key Investors
- National Manufacturing Transformation and Upgrading Fund; Wuxi Industrial Development; National Industry Investment Fund; Sequoia China; Lightspeed China Partners; Matrix Partners China / Jingwei; China Growth Capital; Country Garden Venture (exited 2025); Jinfeng Technology; Zhangjiang Hi-Tech; Luxin Venture Capital; CASSTAR / 基石资本 (largest institutional ~6.3%)
Technology & Products
Key Products
Zhuque-2 rocket; Zhuque-3 reusable rocket; Tianque series liquid oxygen-methane engines
Technological Advantage
Claims: Metal AM enables complex engine structures unachievable with conventional methods, reducing production cycles. Verified: Partnerships with BLT for metal 3D printed parts (e.g., joint elements, igniter mounts) used in successful launches. Advantage is replicable but supported by proprietary rocket design.
Differentiation
Value Proposition
Reduces rocket engine component production time by leveraging metal 3D printing for complex structures, cutting lead times and supporting faster development cycles for reusable launch vehicles.
How They Differentiate
Focuses on liquid oxygen-methane propulsion with metal AM for engine components, unlike competitors using different propellants or less integrated AM; first to orbit with methane rocket in 2023, but lags in reusability scale vs. SpaceX.
Market & Competition
Target Customers
Satellite operators, commercial space launch customers, government space agencies
Industry Verticals
Aerospace; Defense; Satellite Launch Services
Competitors
SpaceX; CAS Space (中科宇航); Space Pioneer (天兵科技)
Growth & Milestones
Growth Metrics
2025 revenue ~¥52M (+11x YoY) but net loss ¥1.711B; cumulative unallocated profit -¥5.955B end-2025; ~1,214 employees (mid-2025); STAR Market IPO 已问询 as of Jun 2026 (¥7.5B raise target); earliest profitability guided 2029.
Major Milestones
2015: Founded; 2018: First private Chinese rocket launch; 2023: Zhuque-2 first methane rocket to orbit globally; 2025-12: Zhuque-3 Y1 reaches orbit (stage-1 recovery attempt failed); 2025-12-31: STAR IPO accepted (¥7.5B); 2026: multiple Zhuque-2 improved commercial launches (Y5 May, Y6 Jun); 2026-06: Zhuque-3 Y2 static fire; IPO status 已问询 (Jun 2026).
Notable Customers
China Star Network (core supplier, GW constellation); Yuanxin Satellite / 垣信 (千帆; ~¥3B launch contracts 2025 incl. one-rocket-18-sats); CAS Micro-satellite Innovation Academy (轻舟 cargo ship launch candidate)