Space-tech outfit on shopping spree

KuangChi Science Ltd, the Chinese technology company hoping to send tourists into space and develop flying jet-packs, could soon go on a $600 million investment spurt.

KuangChi, whose other projects include the Wearable Spiritual Armour exoskeleton, launched a $300 million fund in May to back startups working on cutting-edge computing, space-faring technology and communications. The fund's outlay may double because of the plethora of suitable companies that have since contacted the Hong Kong-listed company, Founder and Chairman Liu Ruopeng told Bloomberg News.

Liu's also hoping to develop technology to decipher human emotions. Last week, it announced a $3 million investment in Israel's Beyond Verbal Communication Ltd, which specializes in voice analytics software, part of an overall $50 million doled out so far. The company relies on Chinese government grants to bankroll its research into moonshots, as well as bank lines of credit, he said.