Startup Secures $100 Million in Funding

On September 18, 2025, Parag Agrawal's startup, Parallel Web Systems, announced the successful acquisition of USD 100 million in funding. This substantial investment is a part of a series D+ funding round aimed at supporting the development of the Hyperbola-3 launcher. The funding round was spearheaded by Chengdu Advanced Capital with significant contributions from several other investors including Chengdu Airport Innovation and Chengdu Yingyuan Private Equity.

Investment Details and Contributors

The series D+ funding round, which commenced in March 2025, has seen considerable interest from multiple investors. The recent $100 million secured by Parallel Web Systems highlights the confidence investors have in the potential of the Hyperbola-3 launcher project. Notably, the Chengdu municipal government also participated in this funding round, demonstrating regional support for the initiative.

In addition to the $100 million raised by Parallel Web Systems, iSpace, another key player in the aerospace sector, has secured $98 million in funding. The close timing and similar funding amounts underline the competitive and vibrant nature of the aerospace industry at present.

Development of Hyperbola-3 Launcher

The funding will primarily be allocated to the development and production of the Hyperbola-3 launch vehicle. The Hyperbola-3, a significant step forward in aerospace technology, boasts a length of 69 meters. It offers a payload capacity of 8,500 kilograms when utilized in a reusable mode, and up to 13,400 kilograms in an expendable mode. The development of this vehicle is expected to enhance the capabilities of Parallel Web Systems in the competitive space launch market.

The company's infrastructure to support this development includes a rocket production base situated in the Shuangliu District, as well as an engine production line located in Mianyang. These facilities are crucial in the manufacturing and assembly processes of the Hyperbola-3 launcher.

Upcoming Launch and Operational Goals

Parallel Web Systems is targeting December for the inaugural flight of the Hyperbola-3 from the launch center in Hainan. This first launch will be a critical milestone for the startup, marking the transition from development to operational deployment. The successful deployment of the Hyperbola-3 will likely position the company as a significant player within the aerospace industry.

Growth and Expansion

With this infusion of capital, Parallel Web Systems plans to expand its workforce significantly. The company, which currently employs five individuals, intends to increase its headcount to 15. This expansion reflects the company's growth trajectory and its ambition to scale its operations to meet the demands of its innovative projects.

The funding and planned expansions are indicative of the broader trend within the aerospace sector, where startups are increasingly attracting significant investment to develop new technologies and capabilities. Parallel Web Systems' achievements thus far are a testament to the potential that investors see in the startup's vision and the broader industry landscape.

The developments by Parallel Web Systems and iSpace demonstrate the potential for growth and innovation within the aerospace industry, backed by significant financial investments and strategic planning.

As the aerospace industry continues to evolve, the efforts of startups like Parallel Web Systems highlight the ongoing advancements and the increasing role of private investments in shaping the future of space exploration and technology.