By Eduardo Baptista

BEIJING, Dec 3 (Reuters) – LandSpace has become China’s most advanced private rocket company and the country’s closest equivalent to Elon Musk’s SpaceX, following U.S. rivals in betting its future on rockets that can fly more than once.

WHAT IS LANDSPACE?

Founded in 2015 and based in Beijing, LandSpace was one of the first startups to enter the industry after China opened parts of its space sector to private money in 2014.

It has raised billions of yuan from investors including venture capital firm HongShan, at the time known as Sequoia Capital China, the investment arm of property developer Country Garden and the state-backed China SME Development Fund.

In 2020, it raised 1.2 billion yuan ($170 million) and last December it secured another 900 million yuan from a

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