It is led by CEO Shu Chang, and is targeting the small launcher market for microsatellites and nanosatellites.
[10] At least 10 such firms have emerged since the Chinese government policy shift in late 2014 to allow private companies into the launch and small satellite sectors.
It uses solid propellant and is designed to carry payloads up to 100 km (62 mi), reaching space.
This flight was paid for by the Chinese state owned Aviation Industry Corporation of China.
It is designed to send payloads up to 300 km (190 mi) with an estimated flight time of 10 minutes.
[33] The firm is anticipating making future entries in the OS-M series of rockets in some way reusable.
This is projected to cost RMB ¥100,000 CNY/kg ($6500 USD/lb)[34] OneSpace also envisions to eventually develop a crewed space capsule.
OneSpace is in competition with several other Chinese space rocket startups, being LandSpace, LinkSpace, ExPace,[35] i-Space, Galactic Energy, and Deep Blue Aerospace.
[citation needed] Space Pioneer is a Chinese liquid-propellant rocket startup competing in the sector.
This fourth round of financing takes the total raised since the founding of OneSpace in August 2015 to $116 million.