Agnikul raises ₹150 crore to power India’s space-tech boom
The Indian space-tech industry has been gaining significant momentum in recent years, with several startups and companies making notable strides in the development of cutting-edge technologies. One such company, Agnikul Cosmos, a Chennai-based space startup, has been making waves in the industry with its innovative approach to developing small satellite launch vehicles. In a recent development, Agnikul Cosmos has raised ₹150 crore in Series C funding, marking a significant milestone in the company’s journey towards achieving its goals.
The funding round, which attracted new investors, reflects the growing interest in India’s commercial space sector. The investment is a testament to the potential of the Indian space-tech industry, which is expected to play a crucial role in the country’s economic growth and development. With the deeptech momentum and increasing capital in space ventures, Agnikul’s progress toward orbital launch milestones will be closely monitored by industry observers.
Agnikul Cosmos was founded in 2017 by Srinath Ravichandran and Moin SPM, with the vision of developing a private launch vehicle that can carry small satellites into space. The company has been working tirelessly to develop its launch vehicle, Agnibaan, which is designed to be a highly efficient and cost-effective solution for launching small satellites. The vehicle is capable of carrying payloads of up to 100 kg to low Earth orbit, making it an attractive option for startups and companies looking to launch small satellites.
The Series C funding round is a significant milestone for Agnikul Cosmos, as it will enable the company to accelerate its development plans and achieve its goal of launching its first commercial satellite by the end of 2023. The funding will be used to further develop the Agnibaan launch vehicle, as well as to establish a manufacturing facility and a launch site. The company plans to use the funding to expand its team and enhance its capabilities, with a focus on achieving orbital launch milestones.
The investment in Agnikul Cosmos is a reflection of the growing interest in India’s commercial space sector. The Indian government has been actively promoting the development of the space industry, with initiatives such as the Indian Space Research Organisation (ISRO) and the Department of Space. The government has also established the Indian National Space Promotion and Authorisation Centre (IN–SPACe), which is responsible for promoting and regulating the commercial space industry.
The Indian space-tech industry has been gaining significant traction in recent years, with several startups and companies making notable strides in the development of cutting-edge technologies. The industry is expected to play a crucial role in the country’s economic growth and development, with applications in areas such as telecommunications, navigation, and Earth observation.
Agnikul Cosmos is one of several Indian startups that are working on developing launch vehicles and satellites. Other notable startups include Skyroot Aerospace, which is developing a launch vehicle called Vikram, and Pixxel, which is developing a constellation of Earth observation satellites. These startups are expected to play a significant role in the development of the Indian space industry, with the potential to create new opportunities and applications.
The funding raised by Agnikul Cosmos is a testament to the potential of the Indian space-tech industry. The investment is expected to have a positive impact on the industry, with the potential to create new opportunities and applications. The company’s progress toward orbital launch milestones will be closely monitored by industry observers, as it is expected to play a significant role in the development of the Indian space industry.
In conclusion, the ₹150 crore raised by Agnikul Cosmos in Series C funding is a significant milestone for the company and the Indian space-tech industry. The funding reflects the growing interest in India’s commercial space sector and is expected to have a positive impact on the industry. With the deeptech momentum and increasing capital in space ventures, Agnikul’s progress toward orbital launch milestones will be closely monitored by industry observers. As the Indian space industry continues to grow and develop, it is expected to play a crucial role in the country’s economic growth and development.
News Source: https://ascendants.in/business-stories/agnikul-cosmos-raises-150-crore-series-c-funding-space-tech/
About the Author
