SPACETECH STARTUP
Manufacturing startup Ethereal Machines secures $13 million from Peak XV, Steadview Capital
Existing investors Blume Ventures, Enam Investments, and WestBridge Capital managing director Sandeep Singhal also join fundraise. Deeptech startup in India develops proprietary multi-axis computer numerical control (CNC) machines and uses them to produce precision parts for the aerospace, healthcare, and consumer electronics industries.
Now India can hope to have its own SpaceX and Blue Origin
Elon Musk's SpaceX and Jeff Bezos' Blue Origin lead the global space industry discourse. From reusable rockets to space tourism, these companies drive innovation in the space sector.
Spacetech startup GalaxEye tests SAR tech on NAL’s pseudo satellite
GalaxEye CEO Suyash Singh said that the company tested its synthetic aperture radar (SAR) technology on a subscale high altitude pseudo-satellite (HAPS) developed by the National Aerospace Laboratories (NAL).
Spacetech startup Digantara chosen for Australia-backed debris management project
Digantara, in collaboration with various partners, is part of the Maitri mission to manage space debris. The company aims to enhance space traffic management and monitoring of Resident Space Objects in Low Earth Orbit.
Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore
The fund is allocating a significant portion of its third fund to invest in around 25 early-stage startups. These initial investments will typically range from Rs 30 crore to Rs 50 crore. Some of the startups that have already received funding include Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme.
ETtech Deals Digest: Startup funding falls 30% on year to $73 million this week
Deal density in the latest week improved to $5.3 million per deal, as per Tracxn data. From April 6 to April 12, 2023, startups had raised about $2.4 million per deal.
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Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding
Former Zomato executive Gupta will steer the venture as CEO, Bansal to stay away from operations. The fashion startup will focus on offline play in the premium women's wear fashion category and expand into other lifestyle segments later.
Dhruva Space bags $9 million from IAN Alpha Fund, others
Dhruva Space founder and CEO Sanjay Nekkanti told ET the Hyderabad-based startup will use the capital infusion, of which Rs 44 crore was in debt, to set up the first phase of its 2.8 lakh sq ft spacecraft manufacturing facility in the city.
Spacetech startup Digantara unveils 25,000-sq ft facility in Bengaluru
The new facility, spanning 25,000 square feet in Hebbal, Bengaluru, serves as a satellite assembly, integration and testing (AIT) facility. The Bengaluru-based startup is currently planning to launch a constellation of space-based space surveillance satellites.
Elon Musk to meet spacetech founders in New Delhi
Tesla CEO Elon Musk confirmed his upcoming visit to India earlier this month, expressing anticipation for a meeting with Prime Minister Narendra Modi. Reports suggest a potential announcement of the company's investment plans in the country.
Spacetech startup Digantara raises $2 million from Aditya Birla Ventures, others
The latest capital infusion marks the final close of the Bengaluru-based startup’s Series A stage of funding at $12 million. In June 2023, Digantara had raised $10 million led by Peak XV Partners (formerly Sequoia Capital India and Southeast Asia).
Spacetech startup for propulsion systems Spacefields raises first institutional funding
The fresh capital will be used towards development and testing of critical hardware and various subsystems, research and development in energetic materials and to expand the company’s team, founder and CEO Masook told ET.
Space companies shoot for the moon as govt eases FDI rules
On Monday, the cabinet amended the FDI rules for the space sector, allowing 74% FDI under the automatic route for satellite manufacturing/operations and satellite data products. It also allowed up to 49% FDI under the automatic route for satellite launch vehicles and up to 100% FDI under automatic route for manufacturing of satellite sector components and sub-systems.
Decision to ease FDI in space sector to boost startup ecosystem in satellite making, assembly
The government on Wednesday eased FDI norms and permitted 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment.
Space companies want govt to implement DPI for Earth observation
GalaxEye Space, Dhruva Space, and Pixxel, along with the Indian Space Association (ISpA), call on the Indian government to implement a digital public infrastructure (DPI) for earth observation-based geospatial analytics. They propose an initiative that provides open access to satellite data archives, ground station networks, and cloud computing resources, enabling space startups to build applications.
Spacetech startup EtherealX raises funding from Campus Fund, others
The funding amount, which was not disclosed, will be used for the EtherealX’s 40 kilonewton, privately developed semi-cryogenic rocket engine, founder and CEO Manu Nair told ET.
Spacetech startup Pixxel appoints William McCombe as CFO
Spacetech startup Pixxel appoints William McCombe as new CFO. McCombe previously held the position of CFO at Velo3D and has experience in space and technology hardware companies like Maxar. As Pixxel's CFO, McCombe will oversee accounting, financial planning, capital raising, and more.
Jeh Aerospace raises $2.75 million in funding round led by General Catalyst
The funds will be deployed to build infrastructure, fuel growth and set up a team, the Hyderabad-based firm said in a statement on Wednesday.
Spacetech startup Pixxel launches 30,000 sq ft manufacturing facility in Bengaluru
The Bengaluru-based startup aims to launch three satellites each in June and October
Ocean surveillance startup PierSight raises $6 million led by Alpha Wave Global, Elevation Capital
The Ahmedabad-based firm aims to test its technology aboard ISRO's PSLV Orbital Experimental Module (POEM) within 2024, Seth told ET.
Spacetech startup Bellatrix Aerospace to commercialise propulsion systems
Bellatrix achieved a significant milestone with the launch of its propulsion systems – Rudra and Arka – on board the national space agency’s PSLV C-58 launch vehicle on January 1. This gives the company its first space qualification.
2023 Year in Review: How money followed deeptech companies at tech’s frontier
Deeptech is a term for businesses using advanced science and technology to find solutions for complicated problems across over a dozen sectors. The year saw a steady increase in investor interest in high-tech innovation-focused companies.
Spacetech startup Agnikul registers revenue of Rs 2.9 crore, losses jump to Rs 20 crore for FY23
Agnikul designs, develops and tests propulsion systems and other such satellite launch vehicle-related structures as well as the software that helps suborbital, orbital and deep space launches of lightweight and heavy payloads satellites.
India tech startups see lowest funding in five years, just two unicorns in 2023
Funding in India's tech startup ecosystem in 2023 has been the lowest in the last five years, dropping India's global ranking from 4th to 5th place, a new report showed on Friday.
Skyroot Aerospace raises $27.5 million in funding round led by Temasek
The startup plans to utilise the newly acquired capital to build its infrastructure and technology, attract talent, and enhance its launch frequency and capabilities.
Space-tech startup Agnikul Cosmos raises over $26 million from Celesta Capital, Rocketship
The firm did not disclose the valuation at which it raised the capital, but cofounder and chief executive Srinath Ravichandran said it was higher than the valuation assigned to the firm in the previous fundraising rounds, without giving further details.
Space startup Manastu raises $3 million in pre-series A funding
This funding will accelerate the development and deployment of Manastu’s green propulsion and debris collision avoidance system and in-space services.
Top Spacetech startups in India
The Union Cabinet in April approved Indian Space Policy 2023 which aims to encourage private investment in the space sector. Meanwhile, several spacetech startups have emerged in India in the past few years with the likes of Skyroot and Pixxel receiving big investments.
Spacetech startup Digantara raises $10 million in funding from Peak XV Partners
Spacetech infrastructure startup Digantara has raised $10 million as part of its latest round of funding led by Peak XV Partners (formerly Sequoia Capital India).
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