Chinas Deep Blue Aerospace has secured A+ round financing from investors and will use the money to speed up its research and development (R&D) of reusable launch vehicle, according to media reports. 

On Tuesday, Chinese technology news portal36Kr reported that the company, an emerging private aerospace firm along with a number of Chinese firms such as iSpace and Landspace, had secured a new round of financing with Min Yin International Investment Co as lead investor.

The capital raise will be used to speed up R&D of reusable launch vehicles for the companys Nebula-1 liquid rocket, the development of the Thunder series engine, the 3D printing additive manufacturing process and the testing and research of recyclable and reusable capabilities.

Previous investors including Zhencheng Investment also followed in. The 36Kr report did not disclose the amount raised.

Founded in 2016, Deep Blue Aerospace focuses onliquid rocket products and recovery and reusable technology. The company successfully conducted a 100-meter-level vertical take-off and vertical landing free flight, known as the grasshopper test, in October 2021.

The company announced the completion of its A financing round of 200 million yuan ($31.4 million) in January.