As Chandrayaan-3 and Aditya-L1 enjoy tremendous success, attention is also focused on 140 domestic space tech businesses that have quietly taken the lead. India reached several significant space milestones in 2022, drawing interest from all across the world, including the first private rocket launch by Skyroot and the placement of numerous satellites.
These accomplishments are made possible by the government’s confidence in and support for domestic private space tech companies, which includes finance, access to technology, and infrastructure support. In a key move, the GST Council introduced a 0% GST regime for entrepreneurs in the space technology industry in July, promoting expansion in this emerging industry.
Between 2014 and July 2023, the Indian space technology sector experienced extraordinary growth, with $205 million in capital raised over 30+ acquisitions. In addition, a December 2022 analysis by IBEF found that India contributed $9.6 billion, or 2.6%, to the global space economy in 2020.
The 10 Indian space tech businesses positioned to influence the future of this developing industry in the country’s growth story are worth looking into as India moves closer to solving the mysteries of space.
Pixxel
Awais Ahmed and Kshitij Khandelwal formed the space technology business Pixxel in 2019 while they were students at BITS Pilani, with an emphasis on creating high-resolution Earth observation satellites. Pixxel’s satellites are equipped with hyperspectral sensors that gather data at different wavelengths about the Earth’s surface. This allows for the monitoring of important aspects including agricultural health, deforestation, and water quality.
Shakuntala, the first hyperspectral imaging satellite from Pixxel, was launched. The satellite delivers crucial data for assessing climate change, such as details on crop health, ice cap melting, deforestation, and gas leakage. Investors such as Google, Omnivore VC, and Radical Ventures contributed around $36 million to the firm. They have also written research articles on the various uses of hyperspectral data and developed an easy-to-use software platform for data visualization and analysis.
Skyroot Aviation
With its headquarters in Hyderabad, Telangana, Skyroot Aerospace is a private aerospace manufacturer and commercial launch service provider in India. In July 2018, the business was started by former ISRO engineers and scientists.
The goal of the company is to “open space for all” by creating dependable and inexpensive launch systems for tiny satellites. The Vikram series of launchers, which Skyroot is building, will be used to place satellites into sun-synchronous orbit (SSO) and low Earth orbit (LEO).
The Vikram-1-1, the first launch vehicle in the Vikram series, is due to launch soon. A three-stage solid-propellant launch vehicle with a 500-kilogram payload is called Vikram-1. Additionally, Skyroot created a cryogenic engine that is now being tested. To date, the business has received about $51 million in capital.
Space Dhruva
Hyderabad, Telangana is home to the commercial aerospace firm Dhruva Space Commercial Limited. Sanjay Srikanth Nekkanti founded the business in 2012, and it specializes in the construction of small satellites for the commercial, governmental, and academic markets. It offers full-stack space-engineering solutions for the construction, launch, and operation of satellites spanning the launch, orbit, and ground segments.
From tiny CubeSats to bigger microsatellites, Dhruva Space offers a variety of satellite platforms. The platforms can be modified to match the unique needs of each customer because they are created to be modular and adaptable.
Atomic Cosmos
The Chennai, Tamil Nadu-based Agnikul Cosmos is a new private space launch vehicle enterprise in India. Moin SPM and Srinath Ravichandran started it in 2017. The business is creating a compact, entirely 3D-printed rocket that will be used to put little satellites into low Earth orbit.
The business successfully tested its first 3D-printed rocket engine in 2022. In 2022, they dedicated India’s first launchpad which was created and run by a commercial company. Funding for the business has totaled $34.8.
Bellatrix Aviation
Bangalore, Karnataka-based Bellatrix Aerospace is a privately owned aerospace manufacturer in India. Rohan M. Ganapathy and Yashas Karanam launched it in 2015. tiny satellites can be launched into low Earth orbit using the Chetak, a tiny satellite launch vehicle that the business is currently building.
Four distinctive types of thrusters have been created by the startup. They have an order from the Indian Space Research Organisation (ISRO) and are the owners of the worldwide patent for these thrusters. Funding for the business as a whole is $11.3 million. They agreed to build a $76 million plant in Bangalore that will specialize in environmentally friendly propulsion systems for tiny satellites under the terms of a contract they signed with the Government of Karnataka in June 2023.
Technologies by Astrome
By leveraging patented millimeter-wave E-band radios and satellite communication solutions, Astrome Technologies, a deep-tech startup formed in 2018 by Neha Satak and Prasad HL, speeds the implementation of 5G and rural telecommunication infrastructure.
The products of Astrome are useful for satellite communication, rural connection, and 5G backhaul. In addition to bridging the digital divide and enabling satellite-based services like weather forecasting and emergency management, they enable 5G base station internet connectivity in rural locations. The organization, which has its headquarters in Bengaluru, India, and has overseas branches, has raised more than $10 million from investors including Accel Partners and Sequoia Capital India.
Aerospace Aadyah
Shaju Stephen established Aadyah Aerospace in 2016, which has its headquarters in Bengaluru and specializes in engineering and technology solutions for the aerospace, defense, and space industries. The goal of this startup is to use AI to revolutionize computer vision, communication, and motion control.
Aadyah Aerospace, which operates in the aerospace and space industries, specializes in drones, launch vehicle subsystems, and self-designed satellites. Advanced electro-mechanical actuators, control actuation systems, and electro-optic systems for missiles and launch vehicles are the startup’s main areas of focus. Notably, they have invented a cube set dispenser that can reliably deploy satellites into Low Earth Orbit (LEO) after they have been safely held in place during launches.
Aadyah Aerospace received roughly $6.12 million in funding from the US-based Keiretsu Forum within a year of its founding.
Technologies Vasundhara
Aditya Tekale founded the business, which focuses on data mining, in 2017. The company’s area of expertise is gathering and interpreting data from field sensors, airborne platforms, and satellites. Vasundhara effectively manages large and complex datasets using its deep learning algorithms, producing quick and insightful results.
A team of data analysts, software developers, geologists, and business professionals work for the organization. They have completed over 75 projects in a variety of industries, including agriculture, the environment, defense, crisis management, and urban development. Vasundhara Geo Technologies successfully attends to the unique requirements of its customers.
SatSure
Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju founded the space technology startup SatSure in 2017, and it is based in Bengaluru. It uses satellite data to offer ‘decision intelligence’ services, primarily benefiting the infrastructure, agriculture, and BFSI industries.
The firm places a strong emphasis on making space data readily available to all users and provides a SaaS application that enables financial institutions to provide farmers with on-demand finance. In a notable milestone, SatSure received investments as part of its $20 million funding round this year from the likes of ICICI Bank, Kotak Mahindra Bank, and HDFC. By 2024, the business intends to use these funds to build a fleet of four satellites capable of producing high-resolution data.
Digantara
Digantara is a startup with Bengaluru roots that specializes in space debris identification and sustainable space operations. It was formed by Anirudh Sharma, Rahul Rawat, and Tanveer Ahmed to develop an Indian small satellite ecosystem. The Pushan-Alpha satellite was just launched to test space weather. To control space operations and traffic, Digantara is also developing a Space Mission Assurance Platform. The company has raised a total of $12.5M through three rounds of funding from Kalaari Capital, Peak XV Partners, and Global Brain.
