In a record funding round for China’s satellite internet sector, domestic start-up SpaceSail has raised around 7 billion yuan (US$1 billion) to accelerate the buildout of a low-Earth-orbit (LEO) network designed to compete with Elon Musk’s Starlink project. Known officially as Shanghai Spacecom Satellite Technology, the operator of China’s Qianfan constellation completed its Series B round on Monday, according to a notice published on the website of the Shanghai United Assets and Equity...
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