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, marking a significant milestone in the company’s journey.
The funding round, which was led by new investors, reflects the growing interest in India’s commercial space sector. The investment is a testament to the potential of Agnikul Cosmos and its technology, which has the potential to revolutionize the way small satellites are launched into space. With this funding, Agnikul Cosmos plans to develop its small satellite launch vehicle, which is designed to be more efficient, cost-effective, and environmentally friendly than traditional launch vehicles.
Agnikul Cosmos was founded in 2017 by Srinath Ravichandran and Moin SPM, two engineers who met while working at the Indian Institute of Technology, Madras. The company’s mission is to make space technology more accessible and affordable, with a focus on developing innovative launch vehicles that can carry small satellites into orbit. The company’s technology uses a unique combination of 3D printing and artificial intelligence to design and manufacture its launch vehicles, which are designed to be more efficient and cost-effective than traditional launch vehicles.
The small satellite launch vehicle market is a rapidly growing segment of the space industry, with an increasing number of companies and organizations launching small satellites into orbit. These satellites are used for a variety of applications, including Earth observation, communication, and navigation. However, the cost of launching these satellites into space is often prohibitively expensive, which is where Agnikul Cosmos comes in.
Agnikul Cosmos’s launch vehicle is designed to be more cost-effective than traditional launch vehicles, with a price point that is significantly lower than what is currently available in the market. The company’s technology also allows for more flexibility and customization, which is essential for small satellite operators who often have specific requirements for their missions.
The funding round is a significant milestone for Agnikul Cosmos, and it reflects the growing interest in India’s commercial space sector. The investment is a testament to the potential of the company and its technology, and it will help Agnikul Cosmos to take its technology to the next level. With this funding, the company plans to develop its launch vehicle and prepare for its first orbital launch.
The progress of Agnikul Cosmos will be closely monitored by industry observers, who are eager to see how the company’s technology will perform in the real world. The company’s success will not only be a significant milestone for the Indian space-tech industry but also a testament to the potential of deeptech startups in India.
Deeptech startups, which focus on developing innovative technologies that are often based on scientific research and experimentation, are gaining momentum in India. These startups are working on a variety of cutting-edge technologies, including artificial intelligence, blockchain, and space technology. The success of Agnikul Cosmos is a testament to the potential of deeptech startups in India and the growing interest in the space-tech sector.
The Indian government has also been actively promoting the space-tech sector, with initiatives such as the Indian Space Research Organisation’s (ISRO) private sector participation program. This program aims to encourage private sector companies to participate in the space industry, with a focus on developing innovative technologies and services.
In conclusion, the funding round of ₹150 crore raised by Agnikul Cosmos is a significant milestone for the Indian space-tech industry. The investment reflects the growing interest in the commercial space sector and the potential of Agnikul Cosmos’s technology. With this funding, the company plans to develop its small satellite launch vehicle and prepare for its first orbital launch. The progress of Agnikul Cosmos will be closely monitored by industry observers, who are eager to see how the company’s technology will perform in the real world.
News Source: https://ascendants.in/business-stories/agnikul-cosmos-raises-150-crore-series-c-funding-space-tech/
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