Spacety Completes Nearly RMB 400 Million Series B and B+ Rounds to Accelerate Upgrade of Private High-End Satellite Manufacturing | Xinwen NEWS

Beijing Micro-Nova Space Technology, a portfolio company of Heart Capital's team, recently announced that it successfully completed nearly RMB 400 million in Series B and B+ funding rounds in 2022. The lead investors included the Guokai Manufacturing Industry Transformation and Upgrading Fund, Yuexiu Industrial Investment Fund, Donghao Lansheng Ruili Investment, Haitong Innovative Investment, and Zero2IPO Fund of Funds. Following these two rounds, Micro-Nova's cash reserves are now more robust, enabling the company to break through the threshold for developing satellites exceeding one metric ton at the complete spacecraft level, accelerate mass production capabilities for operational and equipped satellites, and build practical and efficient satellite production lines; at the payload level, continue advancing development of large-aperture optical payloads and microwave remote sensing payloads while mastering low-earth orbit broadband communication payload capabilities; and at the mission level, expand its user base from commercial and industry clients to national missions, actively participating in and making breakthroughs within China's mega-constellation and major satellite engineering projects.

In 2022, Micro-Nova successfully launched seven satellites, bringing its total to 17 satellites launched to date. The company currently has more than ten additional satellites in various stages of development, and 2023 will see another record year for launches as the company achieves new breakthroughs in technical capabilities and launch scale.

Yan Han, Founding Partner of Heart Capital, expressed congratulations to Micro-Nova for securing funding against market headwinds and earning market recognition. As a leading satellite R&D and manufacturer in China, Micro-Nova possesses rich and solid experience in satellite design and development, with exceptional technical strength and growth potential in complete spacecraft and component research, design, and manufacturing. The two funding rounds in 2022 signify not only market recognition of the future potential of the aerospace industry, but also validation of Micro-Nova's commercial capabilities. Heart Capital believes that commercial aerospace enterprises represented by Micro-Nova will drive the development of the aerospace industry and contribute to China's manufacturing strength.

Heart Capital is rooted in China and maintains a long-term focus on development opportunities in the commercial aerospace sector, supporting technological innovation in this field.

Founded in 2022, Heart Capital is a China-based early-stage venture capital fund focused on technology and digitalization, established by Yan Han, formerly a Founding Partner at Lightspeed. The Heart Capital team consists primarily of founding partners, the CFO, and core investors from Lightspeed, alongside seasoned industry investors from Cainiao and Baidu. The team's past investments include Series A investments in Full Truck Alliance (NYSE: YMM), Xpeng Motors (NYSE: XPEV, HK: 09868), as well as FinVolution (NYSE: FINV), 06810.HK, RoboSense, World Logistics, LandSpace, Lanhu, Micro-Nova, Starfield, and others. Rooted in China with a global outlook, Heart Capital is dedicated to identifying world leaders that will disrupt the future. The firm champions the value of "people" and "heart," and looks forward to accompanying more young Chinese entrepreneurs onto the world stage.