Beijing-based OneSpace Technology, China’s first private rocket producer, has raised a RMB300 million (US$44 million) series B round led by CICC Jiatai Equity Funds, according to the company’s official announcement. FinTrek Capital and existing investors including China Merchants Venture Capital, Qianhai Wande Fund, Qianhai Wutong M&A Fund also participated in this round. Two months ago, OneSpace launched its first single-stage OS-X solid rocket, marking an important step in China’s nascent commercial space industry.