18 March 2021
CASIC subsidiary Xingyun Satellite Co., responsible for the development of a narrowband constellation, announced a massive RMB 2.63 billion round of funding, China Space News (中国航天报) reported, describing it as China’s largest funding round into Industrial IoT. The funding round was led by several blue-chip investors, including ICBC Investment, China Merchant’s Capital, and Shenzhen Capital Group.
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