Spacety, a Chinese satellite startup specializing in synthetic aperture radar (SAR) satellites, has raised 1.3 billion yuan ($190 million) and started IPO preparations on China’s STAR Market. This move reflects a broader trend of Chinese commercial space companies seeking public listings as clearer regulations and government support boost the sector. While Spacety focuses on niche radar satellite technology with potential applications in ground monitoring, the company and others face challenges in building profitable, sustainable business models. The IPO wave signals a shift from experimental projects to market-driven commercial space ventures in China.
In May, 2026, six commercial satellites developed by SPACETY were successfully launched aboard a Zhuque-2A (ZQ-2A) modified carrier rocket from the Dongfeng Commercial Aerospace Innovation Test Zone.
The six satellites cover multiple application fields, including one commercial SAR remote sensing satellite TY42 (Shenqi-2), two optical remote sensing satellites TY29 (DIZHI-1) and TY35 (NCHU-1), and three space science experimental satellites TY34 (SUSTech-1), TY45 (BUPT-2), and TY46 (BUPT-3). After precise orbital insertion, all telemetry parameters were normal, with solar panels and antennas deploying smoothly, marking the complete success of the mission.