CubeSat startup ZeroG wins 20 million yuan in funding
COLDSKY.CN – CubeSat solution provider Beijing ZeroG Technology(北京零重空间技术有限公司) attracted 20 million yuan in Pre-Series A funding from Huaxun Ark Technology (华讯方舟) to use in research and team expansion.
A CubeSat is a type of miniaturized satellite for space research that is made up of 10×10×10 cm cubic units. ZeroG will use the funding to build a production base in southern Shenzhen city.
Established in Oct. 2016, ZeroG has its headquarters in Beijing’s Yizhuang economic development area and has a branch office in Shenzhen. The angel investor for ZeroG is a fund by Satellite & Network magazine under China Satellite Communications Co., Ltd.
ZeroG said its research team are from institutes in China’s space authorities. General manager Zhang Bei has extensive experiences in IT marketing and sales.
Zhang says ZeroG comprises three business units – research and development of CubeSat components, satellite solution consultancy and satellite launch coordination.
ZeroG contributed to research and development of the recently launched FMN 1, a panoramic-camera CubeSat funded solely by real estate tycoon Feng Lun, chairman of Beijing-based Vantone Holdings and also author of several business books. The 3-kilogram FMN 1 has a high-resolution camera with two panoramic lenses capable of capturing images and videos of Earth and space alike.
ZeroG generated more than 10 million yuan in revenues last year and started to turn a profit. ZeroG expects earnings up to 30 million yuan based on the current orders and plans to reduce the total cost to 50,000 yuan per unit, said Zhang.
Another company in the burgeoning commercial satellite sector, Qian Sheng Tan Suo (千乘探索), registered on April 1, 2017 with a capital of 11.8 million yuan, revealed in early January that it raised tens of millions of yuan from angel investors led by FutureCap(明势资本) and supported by EtherCap (以太创服). A satellite named Qian Sheng No. 1 will be launched this year to provide data services amid China’s push for integrated military and civilian development.
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