Although Aerospace start-ups started small in India, they are catching on with other industries rapidly and now seem to be skyrocketing. New start-ups are quickly making their entry and are even managing to raise funds and design rockets.
Noteworthy start-ups in Aerospace manufacturing
Agnikul Cosmos is the talk of the town because the start-up recently raised INR 23.4 crores in a Pre-Series A funding round. A Chennai-based aerospace manufacturing start-up, Agnikul’s mission is to make rocket launches and space missions affordable in India. Agnikul is an IIT Madras incubated start-up which is currently working on a project to develop a satellite launch vehicle called ‘Agnibaan’ with payload capacity of 100 kilograms, powered by a semi cryogenic engine.
Skyroot Aerospace is also getting the limelight for raising $11 M in a Series A funding round. A Hyderabad based start-up, Skyroot is working in tandem with Agnikul Cosmos to be the pioneering private space tech firm to build a commercial rocket that will launch satellites.
Another interesting space technology start-up, Pixxel is a Bengaluru based hyperspectral imaging firm founded in 2019. Pixxel aims to build a health monitor for Planet Earth by putting up a constellation of 30 cutting-edge, hyper spectral observation micro satellites into a sun-synchronous orbit. Pixxel has recently raised $7.3 M in funding.
Astrogate Labs Private Limited
An Aerospace and space technology start-up from Bengaluru, Astrogate Labs makes space infrastructure. They are working towards enabling high speed communications for small satellites through their laser communication solutions which are built to withstand the harsh conditions typically required of space applications.
Vestaspace Tech deserves a mention among leading space-tech start-ups in India. Headquartered in Pune, Vestaspace Tech bagged $10 M in funding recently. Vestaspace specializes in ‘small satellite platform’ building dedicated for commercial scientific applications.
Why are start-ups venturing into the Aerospace sector? 5 noteworthy Indian start-ups that are innovating in space tech and raising funds.
Why are start-ups looking at Aerospace as a business?
There are several governmental support initiatives that have piqued the interest of start-ups towards the Aerospace business. They are all aimed at making it profitable to enter the space domain. Last year, the Union Cabinet approved the formation of ISRO’s new arm called New Space India Limited (NSIL) to harbor companies undertaking space activities. Private players can now access ISRO’s infrastructure, technical resources, and data.
ISRO has also launched an exclusive space start-up program called SEED (Space Entrepreneurship & Enterprise Development) for MSME’s venturing into aerospace. Several other moves like the setup of 3 incubation centers by the Department of Space (DoS) at the National Institute of Technology (NIT), the ARISE program by DoS for supporting applied research and innovation for MSMEs are open invitations for start-ups looking at Aerospace as a business.
Start-ups planning to enter the Aerospace sector will benefit from these initiatives through access to ISRO’s valuable resources. You will also be able to tap into the true business potential of developing space products and services. It’s also an opportunity to step into the industry as a partner to ISRO.