After missions like Mangalyan, SSLV, PSLV, Chandrayan, and more, India is getting more focused on the Aerospace sector, and aims to be listed in the top space tech nations in the world. India currently holds only 3% of the global space tech market valued at 350 billion USD. 

The Indian Government has opened up ISRO (Indian Space Research Organisation) to Public-Private Partnership which is giving the much-needed impetus to Space Industry in India. ISRO is sharing its data with private companies (mostly emerging space start-ups ) to establish India as a key player in the global Space Race. ObserveNow has underlined India’s top five space start-ups basis on the work they are doing and the funding raised.   

1-   Skyroot Aerospace- 

Location: Hyderabad, Andhra Pradesh, India

Founders: Naga Bharath Daka, Pawan Kumar Chandana

Founded: 2018

Capital raised: USD 14.9 M

Investors: Sutton, Vedanshu Investment, Solar Group, Mukesh Bansal, Mahesh Kolli

Focus Area- Skyroot Aerospace is the first-ever privately-owned start-up to develop a possibility of making a home-grown rocket engine. The start-up develops small satellite launch vehicles (SSLVs). On February 8th 2021, Skyroot partnered with Bellatrix Aerospace to use the OTV with their launch vehicle of Vikram series. The company has been developing its first launch vehicle, “Vikram-I,” expected to be launched by December 2021.

2-   Agnikul Cosmos- 

Location: Chennai, Tamil Nadu, India

Founders: Syed Khadri, Satyanarayanan Chakravarthy, Srinath Ravichandran, Janardhana Raju

Founded: 2016

Capital raised: USD 14.5 M

Investors: Artha Indian Ventures, Globevestors, Speciale Invest, Pi Ventures, Angel Fund, Sriram Krishnan, Naval Ravikant, Aarti Ramamurthy, Anand Mahindra.

Focus Area- Agnikul recently launched the world’s first fully 3D rocket engine, the ‘Agnilet’ a semi-cryogenic rocket engine. It was India’s first space startup that entered into an NDA with the DoS, Department of Space under the newly established Indian National Space Promotion and Authorisation Centre (IN-SPACe). It aims to develop and launch its small-lift launch vehicle namely ‘Agnibaan’ by 2022.

 3-   Pixxel- 

Location: Bengaluru, Karnataka

Founders: Awais Ahmed, Kshitij Khandelwal

Founded: 2018

Capital raised: USD 8 Million

Investors: TechStar, Omnivore, Ryan Johnson, Blume Ventures, Lightspeed Ventures, GrowX ventures, Inventus, Lightspeed Indian Partners

Focus Area-Pixxel is the only space tech startup that qualified for the 2019 Techstars Startbust Space Accelerator in LA, California, from Asia. In 2020 the startup also partnered with Newspace India Limited (NSIL), a commercial arm of ISRO to launch a remote sensing satellite of Pixxel on ISRO’s PSLV rocket. The company is planning to launch the ‘World’s highest resolution hyperspectral satellite constellation.’

 4-   Dhruva Aerospace- 

Location: Hyderabad, Telangana, India

Founders: Sanjay Nekkanti, Krishna Penamakuru, Abhay Egoor

Founded: 2012

Capital raised: USD 6.7 M

Investors: Mumbai Angels, Punit Motihar, Ravikant Reddy

Focus Area-The company works on small satellites for commercial, academic markets and the government. Currently, it’s working with ISRO and ESA. Dhruva Space signed a deal with AMSAT in 2014 to work jointly on an amateur radio satellite. In 2020 the company joined forces with Skyroot by signing an MoU to work on a joint space mission.

 5-   Bellatrix Aerospace- 

Location: Bangalore, Karnataka, India

Founders:  Rohan M Ganapathy, Yashas Karanam

Founded: Feb 2015

Capital raised: USD 3 M

Investors:  SINE, Survam, First Cheque, GrowX Ventures, KA Enterprises, StaartupXseed Ventures, Karsemven Fund

Focus Area-The company works on advanced rocket propulsion and in-space propulsion systems. On February 8th 2021, it announced its partnership with Skyroot Aerospace (one of the startups on our list) to work on a joint mission.