GalaxySpace
银河航天
GalaxySpace (银河航天) is a Chinese commercial aerospace company founded in 2018 by Ming Xu, co-founder and former president of Cheetah Mobile, who serves as its chairman and CEO . The company focuses on low-cost, mass-producible low-orbit broadband communication satellites — it applies internet-style agile development to satellite manufacturing and aims to build a "Galaxy" constellation of hundreds to thousands of 5G satellites at 500–1200km altitudes to extend network coverage to oceans, deserts and other areas ground base stations can't reach . Its team built China's first Q/V-band low-orbit broadband satellite payload and first 10Gbps-capacity low-orbit satellite communication system, and it launched its first experimental payload "Yuquan-1" in October 2018 . A planned smart production line was described by 高榕创投 as China's first commercial-aerospace facility benchmarking SpaceX's Starlink model . On the funding side, a September 2019 round led by Jiantou Huake — with Shunwei, IDG, Legend Capital and 5Y (then Morningside) following — pushed its valuation past RMB 5 billion; a November 2020 round made it China's first satellite internet unicorn, per 5Y Capital, with existing backers including Source Code Capital, Gaorong, Legend and 5Y continuing to follow on . More recently, in October 2022 it ran an in-orbit test with CAICT validating 3GPP IoT NTN narrowband-IoT signaling over LEO satellites .
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Gaorong Ventures Report: Physical AI, Domestic Computing Power, Controllable Nuclear Fusion, and Medical Innovation Companies Close Major Funding Rounds
From the continuous leap in model capabilities to hard tech crossing the thresholds of engineering and industrialization, a new wave of technological innovation is accelerating toward the real world.
Rongbao | True Health Medical Lists in Hong Kong, Major Funding Rounds for Embodied AI and Optical Interconnect Companies
From technological innovation to scaled application.
Rong Report | HT Aero, Xiwang, Helixon and Others Close Major Funding Rounds; Moonshot AI and Momenta Release Leading Models
Major Funding + Leading Model + Mass Production
Rongbao | Karl Dynamics, Aerofugia, StarsComm, and ImmuPeak Kick Off the Year with Major Funding Rounds
Leading the industry into a new era.
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MaKe | MaHui Member GalaxySpace's Self-Developed Satellite Internet Technology Test Satellite Launched
Advancing China's commercial space sector to new milestones
The Future Unfolds in Every Generation | 5Y News Monthly
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Trailblazers Carry Their Own Wind | 5Y News Monthly
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Rongbao | Multiple Products Debut at Shanghai Auto Show, AI Drug Lands Major Licensing Deal, Mingming Henmang and Geekplus Race Toward Hong Kong IPOs
New product launches, major licensing deals, accelerated clinical trials...
March, Into the Realm of Hope | 5Y News Monthly
The big news from last month.
Gaorong Report · 2025 | Innovative Drugs, Agri-Tech, AI Content Platforms Close Funding Rounds; Gaorong Earns Multiple Accolades
Innovation as the sail, hard work as the oar.
January: Arriving at the Realm of Infinity | 5Y News Monthly
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December: No End to Progress | 5Y News Monthly
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5Y Capital's Kai Liu: The Evolution of Tech Supply Chain Investing | 5Y View
Three Ecosystems of Hard Tech Investment
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Multiple MaHui members named to Jazzyear's 2023 year-end tech rankings
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Embrace the new era of growth.
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Foresight and courage.
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New drug development, energy storage, computing, and semiconductors see breakthrough innovations: homegrown R&D, world-first technologies, and AI-driven advances
Constantly creating new possibilities.
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The Vitality of Spring.
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GalaxySpace Launches "One Rocket, Four Satellites," Forming World's First Wheel-Formation Satellite Constellation
Going forward, GalaxySpace will accelerate technology innovation and low-cost, mass production of satellites.
Code Moment | GalaxySpace Launches Four Satellites in One Rocket, Forming World's First Wheel-Formation Satellite Constellation
The satellite has successfully entered its designated orbit, and the launch mission has been completed with complete success.
MaKe | Four MaHui Member Company Executives Named to Forbes China's "2023 Businesswomen to Watch" List
Businesswomen are working new wonders for China's economy
MaHui | Nearly 20 MaHui Members Named to PEDaily's 2022 Venture50
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September milestone.
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Powering AR Products Into a New Dimension
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Redefining the at-home coffee experience through technology.
MaHui | Graph Database Developer "Yueshu Technology" Closes Tens of Millions of Dollars in Series A Funding, Existing Investor Source Code Capital Continues to Increase Stake
Providing stable, efficient foundational internet technology services for global enterprises.
MaKe | GalaxySpace Closes New Funding Round, Source Code Capital Was Pre-A Round Investor
5Y News | 5Y Capital Portfolio Company GalaxySpace Closes New Funding Round
Accelerating China's satellite internet infrastructure development.
GalaxySpace Closes New Funding Round, Accelerating China's Satellite Internet Buildout
China's first unicorn in the commercial space and satellite internet sectors.
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The big news from last month.
MaHui Entrepreneurs | Exploring the Known Unknowns and the Unknown Unknowns
Yungang Huang Named to "Top 10 Young Partners"
"Partner on the Entrepreneurial Journey"
Code Moment | Tonight at 8 PM, "Leap" Opens
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Day 4. Broaden your horizons, widen your perspective, and create more lasting, genuine value.
MaHui Entrepreneurs | From 0 to 1 to 23.4 Reading Week: "Organization and Talent"
Day 3, ten books, shared with all you fellow founders for mutual encouragement.
MaHui Entrepreneurs | From 0 to 1 to 23.4 Reading Week: Strategy and Operations
Day 2: Exploring Startup Strategy and Operations
MaHui | Tonight at 8 PM, Source Code Capital Summer Internship Live Info Session
MaHui Entrepreneurs | Exploration Never "Extinguished" — Saluting the Spirit of Spaceflight
Code Moment | Source Code Capital Launches 2022 Summer Internship Program
Creating Lasting, Genuine Value
Multiple cutting-edge technologies lead globally — 3D interaction, LiDAR, chips, and medical innovation continue apace | Rongbao · March
Keep learning and evolving through the long cycle of sustained innovation.
April: Imagination Is the Courage with Which We Face the World | 5Y News Monthly
The big news from last month.
Code Moment | GalaxySpace Launches Seven Satellites in One Rocket
China's first low-orbit broadband communications test constellation
Seven Satellites, One Rocket: GalaxySpace's Second Batch of Production Satellites Successfully Launched, Forming China's First Low-Orbit Broadband Communications Test Constellation
It is a low-orbit broadband communications satellite independently developed and mass-produced by GalaxySpace, with internationally advanced capabilities.
February: When the Tiger Roars, the Wind Rises | 5Y News Monthly
The big news from last month.
2022, the Door Opens to the Future | 5Y News Monthly
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Source Code Capital closes fifth RMB fund, raising over 7 billion yuan to back tech innovation and SMEs
Invest early, invest small, invest in tech
Source Code Capital portfolio company METiS Pharmaceuticals announced the completion of angel+ and Pre-A funding rounds totaling over 100 million yuan, with existing investor Source Code Capital continuing to increase its stake.
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SCRM Service Provider Dustess Announces Completion of Series A Funding Led by Source Code Capital
Serving more than 30 industries and over 5,000 enterprises, enabling intelligent and precise private-domain marketing.
Rongbao · November | Yatsen Holding and Ucommune successfully list on US equities, Nuro closes Series C funding
Working together to create a better life.
Source Code Capital Portfolio Company Narwal Named to TIME's Best Inventions List: Changing the World Together
"100 Inventions That Changed the Way We Live"
Source Code Capital portfolio company WANGBAOBAO announced the completion of a Series C financing round worth several hundred million yuan, with existing shareholder Source Code Capital continuing to increase its stake.
Leveraging brand momentum to continuously break into new circles, it has already covered over 10,000 offline retail terminals, with offline sales accounting for 40% of total volume in a single month.
Visual inspection technology company Dinnar announced the completion of a Series B financing round worth hundreds of millions of RMB, led by Source Code Capital.
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Source Code Capital portfolio company GalaxySpace announces new funding round, with existing shareholder Source Code Capital continuing to increase its stake
GalaxySpace, the first unicorn in China's commercial aerospace and satellite internet sectors, has now entered the final assembly phase for its second self-developed broadband communications satellite.
GalaxySpace Closes New Funding Round to Accelerate China's Satellite Internet Buildout
Continue investing in satellite internet R&D and rapidly build low-cost, mass-production capabilities for next-generation internet satellites.
5Y News | GalaxySpace Closes New Funding Round, Becoming China's First Satellite Internet Unicorn
GalaxySpace, a leading satellite internet company, has closed its latest funding round at a post-money valuation of nearly RMB 8 billion.
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Technology and innovation will help build a better future.
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Set a record for the fastest delivery of 10,000 units of a new model by any domestic or international EV startup — just six and a half months.
Congratulations on GalaxySpace's First Satellite Launch, Opening a New Era for China's Commercial Aerospace Sci-Tech Innovation | Gaorong Ventures News
We are endlessly curious about space, and we look forward to GalaxySpace taking us to explore a broader future!
Congratulations to Source Code Capital portfolio company GalaxySpace on the successful launch of its first satellite!
China's First Low-Orbit Broadband Communications Satellite with 10 Gbps Transmission Capability Successfully Launched
Gaorong News · December | Gaorong Ventures Named Among "China's Top 3 Best VC Funds of 2019," Ronghui "Youth Innovation Camp" Concludes
The future is bright.
Rongbao · September | YITU and Zhuiyi Clinch World Championship Titles, "Ronghui" Steps into QQ Mini Programs...
Wishing everyone a happy National Day!
GalaxySpace has completed a new round of financing, aiming to provide global 5G satellite communications and satellite internet services.
Following this round of funding, the company will continue to focus on R&D for low-orbit broadband communications satellites and the commercial deployment of application scenarios.
Li Auto Meets Reality: "Li ONE" Opens for Pre-Orders
Electric for city driving, gas for long hauls — 800 km of pure-electric range.
2 Companies Close Funding Rounds, 5 Complete Strategic Upgrades, 9 Win 6 Major Awards | Source Code Capital Monthly · January
"Ma Hui Chronicles" documents our members' incremental progress, shares the joy of growth, and looks forward to an even brighter future.
Source Code Capital and Portfolio Companies Win Multiple Awards at 36Kr's 2018 "King of New Economy"
The King of the New Economy — let us see the future.
Niu Technologies IPO Lands on Nasdaq; 3 Companies Close Funding Rounds; Code Brain Issue 8 Mines India | Code Brain Newsletter · October
【Source Code Capital Newsletter】Here we record the small steps forward taken by our team members, share the joy of growth, and look forward to an even brighter future.
Source Code Capital portfolio company GalaxySpace successfully launched its experimental payload!
"Yuqan No. 1"
