Chinese satellite internet startup GalaxySpace has raised new funding worth $1.58 billion, according to the company. The funding follows a funding round in November 2020, valuing the company at US$1.2 billion and making a significant contribution to China’s planned national satellite internet mega-constellation of 13,000 satellites. It underscores the company’s strong position. The round was led by CCB International, an investment firm of China Construction Bank Corporation, one of China’s Big Four banks, along with Anhui Sanzhong Yichuang Industrial Development Fund, Hefei Industrial Investment and Honesty Fund. Previous backers Legend Capital and Chaos Investment facilitated the investment. GalaxySpace founder and…