Agnikul raises ₹150 crore to power India’s space-tech boom
The Indian space-tech industry has been gaining momentum in recent years, with several startups and companies making significant strides in the field. One such company is Agnikul Cosmos, a Chennai-based space startup that has been making waves with its innovative approach to small satellite launch vehicles. In a recent development, Agnikul Cosmos has raised ₹150 crore in Series C funding, attracting new investors and reflecting the growing interest in India’s commercial space sector.
The funding round is a significant milestone for Agnikul Cosmos, which was founded in 2017 by Srinath Ravichandran and Moin SPM. The company has been working on developing a small satellite launch vehicle called Agnibaan, which is designed to carry payloads of up to 100 kg to low Earth orbit. The vehicle is expected to be more efficient and cost-effective than traditional launch vehicles, making it an attractive option for satellite operators and other space companies.
The Series C funding round was led by new investors, who were drawn to Agnikul Cosmos’ innovative approach to space technology and its potential for growth. The company’s progress toward orbital launch milestones will be closely monitored by industry observers, who are eager to see how Agnikul Cosmos will use the funding to drive its development and expansion plans.
The funding round is also a testament to the growing interest in India’s commercial space sector. In recent years, the Indian government has been actively promoting the development of the space industry, with initiatives such as the Indian Space Research Organisation (ISRO)’s commercial arm, NewSpace India Limited. The government has also established the Indian National Space Promotion and Authorisation Centre (IN–SPACe), which is responsible for regulating and promoting the private space industry in India.
The deeptech momentum in India is also driving the growth of the space industry. Deeptech refers to technologies that are based on scientific and engineering principles, such as artificial intelligence, robotics, and materials science. The Indian government has been actively promoting the development of deeptech startups, with initiatives such as the Deeptech Funding Scheme, which provides funding and support to deeptech companies.
Agnikul Cosmos is one of the many deeptech startups in India that is working on innovative space technologies. The company’s Agnibaan launch vehicle is a prime example of deeptech innovation, with its use of advanced materials and propulsion systems. The vehicle is designed to be more efficient and cost-effective than traditional launch vehicles, making it an attractive option for satellite operators and other space companies.
The increasing capital in space ventures is also driving the growth of the industry. In recent years, there has been a significant increase in funding for space startups and companies, with investors such as venture capital firms and private equity firms investing heavily in the sector. The funding is being used to drive the development of new technologies and business models, such as satellite constellations and space tourism.
Agnikul Cosmos’ progress toward orbital launch milestones will be closely monitored by industry observers, who are eager to see how the company will use the funding to drive its development and expansion plans. The company has already made significant progress in the development of its Agnibaan launch vehicle, with several successful tests and demonstrations.
The funding round is also expected to drive the growth of the Indian space industry as a whole. The Indian space industry has been growing rapidly in recent years, with several startups and companies making significant strides in the field. The industry is expected to continue growing, driven by the increasing demand for space-based services and the growing interest in space technology.
In conclusion, Agnikul Cosmos’ ₹150 crore Series C funding round is a significant milestone for the Indian space-tech industry. The funding round reflects the growing interest in India’s commercial space sector and the increasing capital in space ventures. Agnikul Cosmos’ progress toward orbital launch milestones will be closely monitored by industry observers, who are eager to see how the company will use the funding to drive its development and expansion plans.
As the Indian space industry continues to grow and evolve, it is likely that we will see more innovative startups and companies emerging. The government’s initiatives to promote the development of the space industry, such as the Indian Space Research Organisation (ISRO)’s commercial arm, NewSpace India Limited, and the Indian National Space Promotion and Authorisation Centre (IN–SPACe), are expected to drive the growth of the industry.
The deeptech momentum in India is also expected to continue driving the growth of the space industry. Deeptech startups such as Agnikul Cosmos are working on innovative space technologies, such as advanced materials and propulsion systems. The increasing capital in space ventures is also expected to continue driving the growth of the industry, with investors such as venture capital firms and private equity firms investing heavily in the sector.
Overall, the future of the Indian space-tech industry looks bright, with several startups and companies making significant strides in the field. Agnikul Cosmos’ ₹150 crore Series C funding round is just one example of the growing interest in India’s commercial space sector and the increasing capital in space ventures.
Source: https://ascendants.in/business-stories/agnikul-cosmos-raises-150-crore-series-c-funding-space-tech/
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