Astrophel Aerospace Raises ₹6.84 Cr to Build Reusable Rockets
The space industry has witnessed tremendous growth in recent years, with private companies like SpaceX and Blue Origin leading the charge in innovation and technological advancements. India is also emerging as a significant player in the global space landscape, with the Indian Space Research Organisation (ISRO) making significant strides in space exploration and technology development. In this context, the news of Astrophel Aerospace, a Pune-based startup, raising ₹6.84 crore in a pre-seed round to build reusable semi-cryogenic launch vehicles is a significant development.
Astrophel Aerospace aims to reduce launch costs and support India’s growing space ambitions with indigenous, modular, and cost-effective space technology. The company plans to use the funds to boost research and development (R&D), propulsion systems, and in-house tech development. The funds will also enable the startup to accelerate the development of its test-ready prototype, which is expected to be completed within 24-36 months.
The pre-seed round was led by a group of angel investors and family offices, with participation from a few strategic investors. The funding is a significant milestone for Astrophel Aerospace, which was founded in 2020 by a team of space enthusiasts and engineers. The company’s vision is to create a new generation of launch vehicles that are reusable, efficient, and cost-effective, which will enable more frequent and affordable access to space.
The Indian space industry has been growing rapidly in recent years, driven by government initiatives and private sector investments. The Indian government has set a target of launching 100 satellites in the next three years, and the country is expected to become one of the largest space-faring nations in the world. The growth of the space industry is expected to create new job opportunities, drive innovation, and stimulate economic growth.
Astrophel Aerospace’s reusable launch vehicle technology has the potential to play a significant role in India’s space ambitions. The company’s technology is designed to be modular, scalable, and cost-effective, which will enable the launch of smaller satellites and payloads. The reusable launch vehicle will also reduce the cost of access to space, making it more affordable for startups and small businesses to launch their satellites and payloads.
The collaboration with ISRO is another significant aspect of Astrophel Aerospace’s strategy. The company has signed a Memorandum of Understanding (MoU) with ISRO to collaborate on the development of its reusable launch vehicle technology. The collaboration will enable Astrophel Aerospace to leverage ISRO’s expertise and resources, which will accelerate the development of its technology.
The test-ready prototype is expected to be completed within 24-36 months, and Astrophel Aerospace plans to conduct a series of test flights to validate its technology. The company has already begun testing its propulsion systems and is working on developing its in-house tech development capabilities.
Astrophel Aerospace’s funding round is a significant boost to the Indian space industry, which has been growing rapidly in recent years. The company’s reusable launch vehicle technology has the potential to play a significant role in India’s space ambitions, and its collaboration with ISRO is expected to accelerate the development of its technology.
In conclusion, Astrophel Aerospace’s raise of ₹6.84 crore is a significant development in the Indian space industry. The company’s reusable launch vehicle technology has the potential to reduce launch costs and support India’s growing space ambitions. With its collaboration with ISRO and test-ready prototype in the pipeline, Astrophel Aerospace is poised to make a significant impact in the global space industry.
