Space startup Agnikul Cosmos has successfully raised Rs 150 crore in a new funding round, bringing its valuation to over half a billion dollars. The company plans to utilize this capital to advance its reusable launch vehicle technology, enhancing its ability to place small satellites into low Earth orbit.
IIT-Chennai incubated Agnikul demonstrated a sub-orbital rocket launch last year with its 3D printed Agnibaan rocket, and is now focusing on the recovery of the rocket’s lower stage for reuse in subsequent missions. The startup aims to scale its launch frequency to meet the growing demand, with customers across India, the Middle East, and Australia.
A significant portion of the funds will also be invested in the creation of an integrated space campus on 350 acres provided by the Tamil Nadu government. This facility will support the manufacturing and testing of launch vehicle systems, contributing to India’s emerging leadership in the spacetech sector. Agnikul’s ongoing initiatives aim to make it the world’s first recoverable small-satellite launch vehicle provider.
