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Chinese megaconstellation company raises more than $900 million
Posted: Sun, Feb 4, 2024, 9:08 AM ET (1408 GMT)
A Chinese company developing a broadband megaconstellation has raised more than $900 million. Shanghai Spacecom Satellite Technology (SSST) raised 6.7 billion yuan ($943 million), one of its investors, CAS Star, said in a statement Thursday. SSST is developing a 12,000-satellite constellation called G60 Starlink, with the first spacecraft expected to launch later this year. The funding will support work on the constellation as well as technology development and operations, according to CAS Star.
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