China’s Ellipspace Receives 100 Million Yuan Funding for Satellite Innovation

Beijing-based technology company Ellipspace has successfully concluded a new financing round, securing 100 million yuan. The funding round was led by Yulin Fund, with participation from Changsheng Fund.

Founded in 2020, Ellipspace specializes in developing advanced satellites capable of integrating remote sensing technology. Their satellites enable the integration of remote sensing data, sensor monitoring data, and positioning information data, offering customers standardized data products and real-time responsive remote sensing services.

Following the recent financing round of 100 million yuan, Ellipspace, led by Di Fengping, its president, aims to utilize the funds to enhance its integrated smart satellite production capabilities and expedite the implementation of the ambitious “Star Pool Plan” constellation. 

The “Star Pool Plan” encompasses a constellation of over 100 intelligent satellites, integrating IoT communication, multi-mode remote sensing, and navigation enhancement features into a single satellite. 

The constellation enables global ten-minute remote sensing services. Further, it facilitates low-cost two-way access to wide-area IoT and centimeter-level navigation enhancement for ground equipment, generating a comprehensive source of wide-area big data.

Ling Daihong, a founding partner of Danen Capital and a longstanding shareholder of Ellipspace, expressed admiration for the company’s entrepreneurial scientists who possess exceptional qualities such as a deep understanding of scientific research and dedication to creating superior products and services and an insatiable drive to succeed. 

Ellipspace’s constellation offers immediate wide-area integrated sensing services and incorporates onboard intelligent processing capabilities. It will serve as a platform supporting digital applications, providing valuable solutions in various sectors, such as smart inspection of electric power and oil infrastructure, supervision of marine equipment and facilities, and ecological environment monitoring. 

Additionally, it is expected to offer standardized products in the fields of future big data, agricultural insurance, carbon reduction initiatives, and emergency disaster mitigation for China.

With a focus on empowering vertical customers in the energy and financial industries, Ellipspace aims to continuously cater to the specific needs of sectors like power, oil, insurance, and future big data. By leveraging its advanced capabilities, the company strives to collaborate with its clients and drive innovation in these sectors.

Ellipspace has achieved significant progress in establishing its instant wide-area integrated sensing satellite constellation and industry application services. Di Fengping says the “Star Pool Plan” is advancing steadily, with the company preparing to launch its first satellite in the near future.

As the initial batch of satellites in the integrated sensing satellite constellation is officially deployed, Ellipspace will play a crucial role in serving the digital economy, with an estimated value in the tens of trillions of yuan. It will provide database support for the future development of smart Earth.