China's iSpace Raises $729 Million for Reusable Rockets: The Space Race Heats Up | Taha Abbasi

Taha Abbasi examines Chinese launch startup iSpace’s record $729 million fundraise for reusable rocket development — a signal that SpaceX’s dominance is attracting serious competition from China.

A Record Round

iSpace (Interstellar Glory Space Technology) closed the largest-ever funding for a Chinese private space company. The capital fuels their reusable Hyperbola-3, competing in SpaceX Falcon 9’s market segment. For Taha Abbasi, this represents China investing heavily to play SpaceX’s game.

China’s Commercial Space Boom

Key milestones: Landspace reached orbit with methane-fueled Zhuque-2 (2023), iSpace became first Chinese private company in orbit (2019), multiple companies develop vertical landing, and total Chinese private space investment exceeded $2 billion in 2025.

Can They Catch SpaceX?

Taha Abbasi is direct: catching SpaceX’s 100+ annual launches with 20+ reuse per booster is enormous. But Chinese companies have government backing, domestic demand from constellation plans, robust talent pipeline, and cost advantages. The gap will narrow even if it doesn’t close.

What It Means

As SpaceX pushes toward Starship, competition for Falcon 9-class vehicles opens up. Chinese rockets will compete fiercely for international commercial launches. For Taha Abbasi, competition in space is unambiguously good — it drives innovation and accelerates humanity’s expansion beyond Earth.

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About the Author: Taha Abbasi is a technology executive, CTO, and applied frontier tech builder. Read more on Grokpedia | YouTube: The Brown Cowboy | tahaabbasi.com