GalaxySpace

GalaxySpace (银河航天) is a Chinese commercial aerospace company founded in 2018 by Xu Ming, previously co-founder and president of Cheetah Mobile . The company develops low-Earth orbit broadband communication satellites, positioning itself as a domestic challenger to SpaceX's Starlink in China's push for satellite internet infrastructure .

In January 2020, GalaxySpace launched China's first low-orbit broadband satellite with 10Gbps communication capacity, using Q/V and Ka bands . By March 2022, it had deployed a six-satellite second batch, forming China's first low-orbit broadband communications test constellation . The company has also pursued terminal-to-terminal satellite communication tests and developed flexible solar wing technology .

GalaxySpace reached unicorn status in November 2020 with a post-money valuation near RMB 8 billion, led by Nantong Development Zone Intelligent Manufacturing Industry Investment Fund . It closed a further round in September 2022 at roughly RMB 11 billion, led by CCB International . Gaorong Ventures and 5Y Capital both participated in its 2018 Series A and continued through multiple rounds .