Chinese commercial space startup Astronstone has secured more than 100 million yuan ($13.9 million) in early-stage funding to develop a reusable, stainless steel launch vehicle modeled after SpaceX’s Starship.
An Astronstone stainless steel common bulkhead tank. Credit: Astronstone
Founded in mid-2024, Astronstone aims to accelerate the development of its flagship rocket, the AS-1, a methane-liquid oxygen launch vehicle designed for reusability. The company announced on May 29 that the new funding round was led by Qiancheng Capital, with participation from Huacang Capital and continued support from existing investor Lingge Ventures.
According to the company, the funds will go toward research and development of rocket systems and the construction of a test and production base. Astronstone says its design and engineering philosophy is “fully aligned with Elon Musk’s SpaceX.”
The AS-1 rocket features a stainless steel airframe, a 4.2-meter diameter, 70-meter length, and a launch mass of 570 metric tons. In an expendable configuration, it can deliver 15,700 kilograms to low Earth orbit (LEO), or 10,000 kg in a reusable mode. The company estimates a launch cost of 10,000 yuan ($1,340) per kg for reusable flights, and 20,000 yuan ($2,680) per kg for expendable missions.
The rocket will use a customized version of the 80-ton-thrust Longyun engine, developed by commercial propulsion firm Jiuzhou Yunjian (JZYJ)—which also recently supplied engines to Sepoch, another Chinese startup that completed a vertical takeoff and splashdown test with a stainless steel prototype.
Astronstone’s AS-1 will also feature a “chopsticks” recovery system for first-stage landings—borrowing a concept from SpaceX’s Mechazilla tower. Tests planned in the coming months include second-stage rocket assembly, a static fire test, and a full-scale chopstick arm ground demonstration.
CEO Tang Wen, a veteran of China’s state-owned space giant CASC and a contributor to the Long March 5 and 7 programs, identified key technical hurdles to recovery. These include precision landing, synchronization with recovery arms, and engineering durable structural components to absorb the impact of catching descending rockets.
Investors cited Astronstone’s focus on reusability, large payload capacity, and use of stainless steel as major advantages. Stainless steel’s resilience to high temperatures and strong structural integrity during atmospheric reentry make it ideal for reusable systems, despite its heavier weight compared to aluminum alloys.
“The persistent challenge in China’s space sector is the high cost of launching heavy-lift liquid rockets,” Qiancheng Capital said in a statement. “With growing demand from national megaconstellation projects like Guowang and Qianfan (Thousand Sails), there's an urgent need for commercial launch capacity.”
China has already begun launching satellites for both constellations but faces significant bottlenecks in launch availability.
Astronstone joins a growing list of Chinese startups pursuing reusable rocket technology. Competitors such as Cosmoleap and Sepoch are also developing rockets with similar “chopstick” landing systems, while more established players in China’s commercial launch industry are preparing maiden flights of reusable liquid-fueled vehicles later this year.
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