Spacetech startup Agnikul Cosmos has raised Rs 150 crore ($17 million) in a new funding round that values the company at Rs 4,200 crore ($500 million), placing it among India’s most valuable private spacetech ventures. The round saw participation from Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, 100X VC and multiple family offices.
Capital to Scale Reusable Launch Architecture
Agnikul will use the funds to expand production of rocket and aerospace components, accelerate its stage recovery program, and deepen development of its reusable launch architecture. A key focus area includes the company’s recently granted patent enabling longer operational life for upper stages an innovation aimed at improving launch economics in the small-satellite market.
Part of the capital will also support the company’s upcoming 350-acre integrated space campus in Tamil Nadu, a large-scale facility designed for end-to-end manufacturing, rocket assembly, engine testing and mission training.
Advancing Small Satellite Launch Capabilities
Founded in 2017 by Srinath Ravichandran and Moin SPM, Agnikul is building customizable small satellite launch vehicles powered by 3D-printed engines. Earlier this year, the company conducted a successful controlled ascent test flight with ISRO and IN-SPACe support, validating several key propulsion technologies.
Agnikul is currently developing lower-stage recovery features intended to make small satellite launches more cost-efficient and frequent. “This investment strengthens our ability to increase launch cadence and advance reusable systems,” said CEO Srinath Ravichandran.
Market Context and Competition
While FY25 financials are yet to be filed, Agnikul reported Rs 9 crore revenue and Rs 43 crore losses in FY24 typical for early-stage spacetech companies operating in capital-intensive R&D cycles. Its competitive landscape includes Skyroot Aerospace, Pixxel, Bellatrix, GalaxEye, Dhruva, Vesta Space, Digantara and InspeCity.
Final Take
With fresh funding and a major infrastructure expansion underway, Agnikul is positioning itself as a frontrunner in India’s small-satellite launch race, backed by reusable systems and a fully integrated space campus.
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