Chinese launch company Cosmoleap has raised over 100 million yuan ($14 million) to develop its Yueqian reusable rocket and a recovery system modeled after SpaceX’s technology.

Founded in March 2024, Cosmoleap aims to create low-cost, reliable launch vehicles to support satellite Internet, particularly for China’s megaconstellation plans.

The company plans its first test flight of the Yueqian rocket, a methane-fueled vehicle, by 2025 or 2026.

With a payload capacity of up to 10,460 kg for expendable launches, the rocket will use a tower and “chopstick” landing method.

Cosmoleap also plans a larger 126-meter rocket by 2030, Space News has reported.

The firm competes with established players like Landspace and CAS Space in China’s growing commercial space sector, which has strong government backing.

Written by B.C. Begley