The Wire · live □ GRID-REF 37°47′N 122°25′W
DISPATCH 03/26 · 22 Sep 2026
BattlePolicy
Startup to front line. Strategy to consequence.
Company Dossier

iSpace (Beijing Interstellar Glory)

iSpace (Beijing Interstellar Glory): Chinese private launch firm, first to orbit a privately-built Chinese rocket (solid Hyperbola-1, 2019); building the reusable methalox Hyperbola-3. NOT Japan's ispace, the lunar-lander firm.

BattlePolicy Research · Updated 4 Sep 2026 · 6 min read
FILE · ispace-beijing-interstellar-gloryOpen-source file · BattlePolicy ProStatus Private, late-stage (pre-IPO) Chinese launch startup — one of the 'Five Little Dragons.' NOT Japan's ispace (the Tokyo lunar-lander company). Parent Beijing Interstellar Glory is NOT itself on the US Entity List / not OFAC-sanctioned as of mid-2026 (unlike Chinese space peers Chang Guang and Spacety), but is deeply state-linked, and its subsidiaries touch US-restricted parties and market weapons — a strong military-civil-fusion / dual-use profile.Unverified
iSpace (Beijing Interstellar Glory)
Space / LaunchCNPrivate, late-stage (pre-IPO) Chinese launch startup — one of the 'Five Little Dragons.' NOT Japan's ispace (the Tokyo lunar-lander company). Parent Beijing Interstellar Glory is NOT itself on the US Entity List / not OFAC-sanctioned as of mid-2026 (unlike Chinese space peers Chang Guang and Spacety), but is deeply state-linked, and its subsidiaries touch US-restricted parties and market weapons — a strong military-civil-fusion / dual-use profile.
iSpace (Beijing Interstellar Glory): Chinese private launch firm, first to orbit a privately-built Chinese rocket (solid Hyperbola-1, 2019); building the reusable methalox Hyperbola-3. NOT Japan's ispace, the lunar-lander firm.
Founded
October 2016
HQ
Beijing (Yizhuang/E-Town), China; sites in Shaanxi, Hainan, Sichuan, Guangdong
Headcount
~400reported; unverified
Total raised
Cumulative undisclosed; Series D++ alone 5.037B yuan (~$729-737M) — reported largest disclosed round by a Chinese launch startup
Valuation
Not publicly disclosed
Stage
Late-stage private (Series D++; reported Series E) — pre-IPO, reportedly targeting Shanghai STAR Market
Restricted · BattlePolicy Pro

The rest of the iSpace (Beijing Interstellar Glory) file

  • ▸Background — founding, ownership and how the company got to here
  • ▸Financial footing — rounds, valuation, backers and who is exposed
  • ▸Customers & contracts — live join against our Procurement Tracker
  • ▸Leadership — who runs it, and the contact surface
  • ▸Competitive position — who it beats, who beats it, and on what
  • ▸Battlefield relevance — confirmed combat use versus company claim
  • ▸Sources — every citation this file is built on
  • ▸Analyst verdict — where the evidence is thin and what would change our call
Unlock with BattlePolicy Pro →