Chinese satellite business raises $1.94bn

Shanghai Spacecom Satellite Technology (SSST) has raised 7 billion yuan (about $1.94 billion) in a Series B financing round, valuing the Chinese commercial satellite operator at about $6.96 billion. Shanghai Spacecom, also known as Shanghai Yuanxin Satellite Technology, was founded in March 2018 by Shanghai Alliance Investment Ltd. The company operates as a state-owned entity. […]