Page 2 - Space Startup

Space industry says easing of FDI norms will pave way for innovation

India's nascent private space industry on Thursday welcomed the easing of FDI policy for the sector, terming it as a "pivotal move" to boost investments and help the country increase its share in the global space economy. "The easing of FDI norms will have a similar impact on the space sector as the 1991 liberalisation policy had on the overall economy," Tushar Jadhav, co-founder and Chief Executive Officer Manastu Space told PTI. Industry leaders said the government decision to permit 100 per cent overseas investment in making components for satellites and up to 49 per cent FDI through the automatic route for launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft has given the much needed clarity for the sector. Several industry leaders cited examples of how foreign investors were hesitant to invest in the space sector through the government route, which was the case earlier, due to a series of approvals that were require

Private sector space players seek govt relief on FDI and GST exemption

Data from the Indian Space Association (ISPA) reveals that, as of November-end 2023, Indian start-ups had attracted $124 million in funding, compared to $120 million in 2022

India's research riddle

It has the highest public sector budget for research in the world as a share of GDP, but the private sector lags way behind

Skyroot unveils Vikram-1 rocket, set to launch satellites early next year

Space start-up Skyroot Aerospace on Tuesday unveiled its indigenously built Vikram-1 rocket which is expected to deliver satellites to low earth orbit early next year. Science and Technology Minister Jitendra Singh also inaugurated 'The MAX-Q Campus', the new headquarters of the start-up at the GMR Aerospace and Industrial Park at Mamidipally in South Hyderabad. Singh toured the Skyroot headquarters spread across 60,000 sq ft and billed as the country's largest private rocket development facility under one roof. Vikram-1 is a multi-stage launch vehicle with a capacity to place around 300 kg payloads in Low Earth Orbit. It is an all-carbon-fibre-bodied rocket that can place multiple satellites into orbit and features 3D-printed liquid engines. Planned to be launched in early 2024, Vikram-I will be Skyroot's second rocket, after the successful launch of the Vikram-S rocket on November 18 last year. Skyroot's new headquarters houses integrated design, manufacturing and testing facili

India to land man on Moon by 2040, set up space station by 2035: PM Modi

Private sector players see huge business opportunity through joint ecosystem with ISRO

Space-tech startup Agnikul Cosmos raises Rs 200 crore, eyes expansion

Space-tech startup Agnikul Cosmos, incubated by IIT-Madras, on Tuesday said it has raised Rs 200 crore in the Series-B funding round and aims to use that for supporting its expansion plans as the firm looks at putting satellites in orbit. Agnikul has started the integration of the launch vehicle Agnibaan SubOrbital Technology Demonstrator at its private launchpad at the Satish Dhawan Space Centre in Sriharikota. "We are planning to have a test launch before the year-end," Agnikul co-founder and CEO Srinath Ravichandran told PTI. With the successful closure of a Series-B fund of Rs 200 crore (USD 26.7 million), the startup has increased its total capital raised till date to USD 40 million. The round saw participation from venture capital investors such as Celesta Capital, Rocketship.vc, Artha Venture Fund and Artha Select Fund, Mayfield India, along with existing investors such as pi Ventures, Speciale Invest and Mayfield India. "We have a fair idea of the technology that is involv

Global investments in space startups show signs of recovery in Q3: Report

"Despite continued headwinds in financial markets, the world is waking up to the importance of space-based technologies," Space Capital said

Govt may liberalise FDI norms for space sector: DPIIT secy Rajesh Kumar

The government may liberalise foreign direct investment norms for the country's Space sector, as it eyes further improvement in ease of doing business, a top official said on Friday. Presently, Foreign Direct Investment (FDI) in the Space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through government route only. While addressing a road-show event for the Vibrant Gujarat Summit to be held on January 10-12, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said, the government may liberalise FDI norms for the country's Space sector. Speaking on the government's policies, he said, FDI liberalisation has substantially been achieved in India except for a few strategic sectors. "We've tried to maintain an almost Open Sky policy for almost all sectors of the economy. Though that liberalisation will continue and we may expand it further to even some of our sectors like Space as well. The .

India's space economy to grow to $45 bn in next 10 yrs: Chairman, IN-SPACe

Chandrayaan-3's success - with 60-70% of its components coming from the private sector - enhances the sector's credibility, says Pawan Goenka, chairman of IN-SPACe

Space startup Skyroot's rocket engine successfully tested at ISRO facility

The Indian Space Research Organisation has enabled a successful rocket-engine test conducted by Skyroot, a Hyderabad-based space start-up, at ISRO Propulsion Complex (IPRC) at Mahendragiri in Tamil Nadu. Friday's test in the Liquid Thruster Test Facility (LTTF) in IPRC, involved the Raman-II engine, which was designed by Skyroot to generate 820 Newton (Sea Level) and 1,460 Newton (Vacuum) thrust, with a nominal chamber pressure of 8.5 bar absolute, Bengaluru-headquartered ISRO said in a statement on Saturday. The regeneratively cooled engine, manufactured through additive manufacturing techniques, utilises Mono Methyl Hydrazine and Nitrogen Tetroxide as propellants. "The 10-second duration test achieved the expected performance in terms of start transient, steady state, and shut-off," it said. Skyroot intends to integrate the Raman-II engine into the fourth stage of its launch vehicle, Vikram-I. "The test facility systems demonstrated normal performance during the test, meeting th

India's space start-ups exploring niche markets, global collaborations

From aiming to re-fuel satellites in orbit to monitoring the Earth's health, Indian start-ups in the space sector are exploring niche markets with the hope of striking it big as opportunities for global commercial collaborations open up. India becoming a signatory to the Artemis Accords and the focus on the space sector, particularly on addressing issues related to export control and technology transfer, during Prime Minister Narendra Modi's recent visit to the US will open up doors for private players, industry leaders believe. Since India opened up its space sector in 2020, more than 150 start-ups have come up in areas such as building rockets and satellites, setting up astronaut training facilities and exploring possibilities for space tourism. "It is a good start, because it was unheard of for the US to supply any space or defence-related technology 10-15 years ago. It was a taboo. Now, we are talking of working together in sunrise sectors," Manastu Space co-founder Tushar Jadha

Google part of $36 mn funding round for Indian space startup Pixxel

The startup has raised more $71 million from investors including Accenture PLC. Pixxel did not specify the valuation it reflected

TMS Ep348: PAN ID, space parks, IT stocks, basic structure doctrine

How will PAN as a single ID help businesses? Are space parks finally ready for take-off in India? Will better-than-expected Q3 results revive IT stocks? What is basic structure doctrine? Answers here

Satellite imaging start-up GalaxEye Space gets $3.5 mn seed funding

Company says its technology helps in all-weather imaging without atmospheric interference

Agnikul first pvt firm to build launchpad & mission control centre in India

Development follows Skyroot Aerospace's launch of Vikram-S rocket on a sub-orbital flight from Sriharikota on Nov 18

Telangana CM KCR hails startups for making history in space sector

Chief Minister K. Chandrashekhar Rao expressed happiness over successfully placing into the space orbit the two Nano satellites launched from Sriharikota by Telangana-based Dhruva Space Tech

Race for space: Funding for space start-ups skyrockets 61 per cent in 2022

Funding to private players soars to $108.52 million compared to $67.2 million in 2021

PSLV to launch Pixxel's hyperspectral imaging satellite on Saturday

Spacetech startup Pixxel is set to launch its third hyperspectral satellite Anand onboard ISRO's Polar Satellite Launch Vehicle (PSLV) from the Sriharikota spaceport on Saturday. Anand is a hyperspectral microsatellite weighing less than 15 kg but having more than 150 wavelengths that will enable it to capture images of the earth in greater detail than today's non-hyperspectral satellites that have not more than 10 wavelengths. The imagery from the satellite can be used to detect pest infestation, map forest fires, identify soil stress and oil slicks amongst other things, a statement from Pixxel said on Monday. "After more than 18 months of delay, many many retests, and more than two years of sweat and hard work by the team, we are finally launching this week," Awais Ahmed, Founder and CEO of Pixxel said on Twitter. Founded by Ahmed and Kshitij Khandelwal, Pixxel became the first Indian company ever to launch a commercial satellite Shakuntala in April using Elon Musk's SpaceX'

Space for start-ups

A Nasa-like PPP policy could make India an aerospace powerhouse

Skyroot Aerospace plans to launch two rockets every month from 2025: Report

The company which launched India's first private rocket on November 18 is also planning to develop reusable rocket engines