CHENNAI: House tech startup Agnikul Cosmos has raised Rs 200 crore (round $26.7 million) in Sequence B funding from enterprise capital traders together with Celesta Capital, Rocketship.vc, Artha Enterprise Fund, and Artha Choose Fund, together with participation from current traders Mayfield India, pi Ventures, Speciale Make investments, and others.
That is Agnikul’s largest fundraise until date and takes the full capital raised thus far to $40 million.
With Agnikul’s take a look at launch deliberate in November/December, the house tech startup intends to make use of the funds to arrange for its first set of economic launches. The startup may even use it to construct out key launch infrastructure comparable to cellular launchpads and different crucial equipments. It additionally intends to scale its crew from round 225 at present to round 300 with concentrate on launch administration and operation abilities.
“We have now validated the know-how so now it’s time for us to assist prospects go to house with our automobile and see how they’ll do it from a number of launch pads and so on. With this capital, we’ll transfer from an aerospace design firm to an area manufacturing and launch operations entity,”. Srinath Ravichandran, Co-founder and CEO of Agnikul advised TOI. Agnikul is in talks with round 40-45 world prospects slicing throughout varied sectors for his or her on-demand small payload launch options, he added.
Agnikul’s first-of-its-kind, patented 3D-printed rocket engine Agnilet has already been efficiently test-firing it in early 2021
Agnikul additionally inaugurated its manufacturing unit devoted to end-to-end 3D printing of rocket engines final 12 months. In August 2023, Agnikul commenced the mixing strategy of its cutting-edge launch automobile, Agnibaan SOrTeD (SubOrbital Technological Demonstrator), with its personal launchpad situated at Satish Dhawan House Centre (SDSC) SHAR at Sriharikota.
Based in 2017 by Srinath Ravichandran, Moin SPM, and Prof. SR Chakravarthy from IIT Madras, Agnikul Cosmos is constructing small payload launch automobile Agnibaan that will probably be able to carrying as much as 100 kg of payload to low Earth orbits as much as 700 km.
That is Agnikul’s largest fundraise until date and takes the full capital raised thus far to $40 million.
With Agnikul’s take a look at launch deliberate in November/December, the house tech startup intends to make use of the funds to arrange for its first set of economic launches. The startup may even use it to construct out key launch infrastructure comparable to cellular launchpads and different crucial equipments. It additionally intends to scale its crew from round 225 at present to round 300 with concentrate on launch administration and operation abilities.
“We have now validated the know-how so now it’s time for us to assist prospects go to house with our automobile and see how they’ll do it from a number of launch pads and so on. With this capital, we’ll transfer from an aerospace design firm to an area manufacturing and launch operations entity,”. Srinath Ravichandran, Co-founder and CEO of Agnikul advised TOI. Agnikul is in talks with round 40-45 world prospects slicing throughout varied sectors for his or her on-demand small payload launch options, he added.
Agnikul’s first-of-its-kind, patented 3D-printed rocket engine Agnilet has already been efficiently test-firing it in early 2021
Agnikul additionally inaugurated its manufacturing unit devoted to end-to-end 3D printing of rocket engines final 12 months. In August 2023, Agnikul commenced the mixing strategy of its cutting-edge launch automobile, Agnibaan SOrTeD (SubOrbital Technological Demonstrator), with its personal launchpad situated at Satish Dhawan House Centre (SDSC) SHAR at Sriharikota.
Based in 2017 by Srinath Ravichandran, Moin SPM, and Prof. SR Chakravarthy from IIT Madras, Agnikul Cosmos is constructing small payload launch automobile Agnibaan that will probably be able to carrying as much as 100 kg of payload to low Earth orbits as much as 700 km.
)
