Chinese startup Spark Space has secured series of funding rounds and successfully hot-fired its Lieyan-2 engine as it develops what it claims will be the world’s largest electric-pump-fed rocket.
Spark Space, established in 2024 and based in Hefei, is developing the Jinhua-1 (Evolution-1) rocket powered by the self-developed Lieyan-2 electric-pump-fed engine. The expendable two-stage rocket measures 27.5 meters long with a 2.25-meter diameter, with nine Lieyan-2 engines on the first stage and a vacuum-optimized variant on the second, delivering 90 tons of liftoff thrust and a payload capacity of 1,500 kg to LEO.
The company announced a Pre-A round of nearly 100 million yuan ($14.8 million) led by Yunze Capital and Orbital Chenguang, followed by tens of millions of yuan from Cathay Capital in Pre-A+ funding. Spark Space previously raised angel round and angel+ funding within the last 12 months from a mix of private and Hefei government-linked capital.
The funding follows successful test firings of the Lieyan-2 kerosene-liquid oxygen engine in early March, which verified the design, ignition stability, and vibration behavior under operation. Next milestones include engine reliability testing, first-stage propulsion system testing, and full rocket assembly. The company is targeting a debut flight in 2027.
Source: SpaceNews
