36Kr Exclusive | Leading commercial satellite in-orbit operation and management service provider "SpaceYuke" completes a RMB 430 million Series C+ financing round.
36Kr has learned that recently, "SpaceYee", a leading enterprise in the on-orbit operation and management services of commercial satellites, completed a Series C+ financing of 430 million yuan in 2025, following its Series C financing in 2024. This round of financing attracted many well-known institutions such as Cinda Capital, HIT Venture Capital, Caitong Capital, Hanjiang Capital, Yangtze Capital, Nice Group, and Jigang. The funds will be mainly used for the research and development and mass production of key technologies for satellite internet ground infrastructure, as well as the continuous construction of global space ground infrastructure.
In recent years, with the rapid development of domestic commercial satellite constellations and the acceleration of the networking of the two major low-orbit satellite constellations, GW and G60, the demand in the commercial space sector for spacecraft measurement, control, and data reception, as well as various ground infrastructure such as ground stations and gateway stations, has increased rapidly. As a leader in the on-orbit operation and management services of domestic satellites, SpaceYee has been continuously improving its measurement, operation, and control services and technical capabilities in ground infrastructure to meet the industry's needs.
SpaceYee uses measurement and control services, the central link of satellite ground-to-space interaction, as an entry point. Since its establishment, it has been leading the development of China's commercial space measurement and control industry and has now become a leading company in the domestic commercial satellite measurement, operation, and control field. SpaceYee can provide full-life-cycle services for spacecraft, including satellite and rocket measurement, operation, and control, data reception, remote sensing satellite calibration, space debris detection, spacecraft collision warning, orbit control, and constellation mission planning. Its measurement and control service coverage rate and service times are at the leading level in the industry. As of now, SpaceYee has successfully provided paid services for more than 500 satellites and rockets. It can meet the high-frequency and large-volume measurement, control, and data transmission service tasks of various customers. Its main customers include traditional state-owned space units, leading commercial space rocket companies, commercial satellite companies, as well as universities and research institutions. Among the on-orbit operation and management service cases provided by SpaceYee, there are many complex tasks such as early orbit segment services for multi-satellite launches, formation flight of remote sensing satellites, orbit control, collision warning and avoidance, long-time low-altitude target tracking, and rapid remote sensing data reception.
The development of satellite measurement, operation, and control services is inseparable from ground infrastructure. Starting from measurement, operation, and control services, in the process of continuously improving its global on-orbit service network, SpaceYee has continuously increased its independent research, development, and sales of ground stations and their core subsystems. It has grown into a leading infrastructure builder and operator in the commercial space sector. SpaceYee currently has the ability to develop and supply various measurement, control, and data transmission ground stations, gateway stations, and their core subsystems, such as the antenna servo feed subsystem and the baseband subsystem, and has achieved mass delivery of products to customers. It is one of the very few private enterprises that have entered the gateway station supplier system of the two major low-orbit satellite constellations. The self-research rate of SpaceYee's key products exceeds 90%, with significant overall system advantages and cost advantages. It effectively solves the problems of high cost, high difficulty, low satellite utilization efficiency, insufficient safety, poor data timeliness, and fragmentation in the on-orbit comprehensive operation and management of spacecraft, thus alleviating the contradiction between the shortage of space ground infrastructure and the service demand for on-orbit spacecraft. At the same time, the reduction of ground infrastructure costs will directly drive down the overall investment cost of infrastructure in the commercial space industry and greatly improve the overall capital utilization efficiency of the industry.
Overseas ground stations and overseas business are of great strategic significance to the development of domestic commercial space. SpaceYee formulated a strategic goal of expanding overseas at the beginning of its establishment. It has now built the most extensive overseas ground station network, actively explored overseas channels, and truly promoted the development of various industries based on the needs of domestic commercial space enterprises.
In the future, SpaceYee will continue to increase R & D investment in key technologies for satellite on-orbit operation and management and satellite internet ground infrastructure. Directions such as satellite measurement, operation, and control intelligent systems, satellite on-orbit operation safety and health management technologies, and ground systems for large constellation measurement, control, and communication will be the main areas of capital investment and key breakthroughs for SpaceYee. Currently, SpaceYee and its main subsidiaries have been granted 151 invention patents.
Since its establishment, SpaceYee has steadily completed 10 rounds of financing, with a cumulative financing of over 1 billion yuan. As the A-share capital market continues to strengthen its support for commercial space and SpaceYee's own business develops rapidly, the IPO process of SpaceYee is expected to be accelerated.