India’s space tech ecosystem is on an upward trajectory, with the emergence of 22 startups that are propelling the country into higher orbits. These startups have raised over $233 million in funding during the last decade, signaling a significant boom in the sector. The Indian Space Research Organisation (ISRO) has witnessed a surge in registrations from these startups, highlighting their growing influence.
With the introduction of the Indian Space Policy 2023 and the entry of new private players in the sector, India is poised to scale up its global space economy. According to a report by Deloitte, India aims to increase its current space economy from 3 percent to a substantial 9 percent by 2030. This growth can be attributed to the increasing number of startups venturing into the space tech arena.
One notable startup that made waves in 2016 was Aadyah Aerospace, which specializes in aeronautics, space, and defense engineering solutions. Based in Bengaluru, the company is pushing the boundaries of computer vision, communication, and motion control through the integration of artificial intelligence (AI).
Another key player in the space tech scene is Astrogate Labs, a Bengaluru-based startup that focuses on enabling high-speed communications for small satellites. Founded in 2017 by Aditya Kedlaya and Nitish Singh, Astrogate Labs is at the forefront of the startup movement in this domain.
The year 2024 has already witnessed significant developments in India’s space tech landscape. Three startups, namely Dhruva Space, Bellatrix Aerospace, and TM2Space, gained attention for their payloads on the Polar Satellite Launch Vehicle (PSLV). Hyderabad-based Dhruva Space showcased its microsatellite subsystems through its LEAPTD (Launching Expeditions for Aspiring Technologies Technology Demonstrator). Bellatrix Aerospace, based in Bengaluru, launched two payloads including the Rudra 0.3 HPGP green monopropellant thruster and the ARKA 200 thruster variant. TM2Space, also known as TakeMe2Space, from Bengaluru, caught the attention of the country’s satellite policy makers.
Chennai-based Agnikul has been on a remarkable journey since its inception seven years ago. The company has constructed its own launchpad and mission control center at the Satish Dhawan Space Centre in Sriharikota. Agnikul has garnered support from prominent angel investors and has forged partnerships with both ISRO and IN-SPACe for the development of its projects.
Garuda Aerospace, a drone maker, is another formidable player in the space tech sector. The company recently raised Rs 25 crore in a bridge round of funding and has ambitious plans for an initial public offering (IPO). Its engineers focus on incorporating new design methodologies in their projects, setting them apart from the competition.
Digantara, a Bengaluru-based startup, has resonated with many due to its emphasis on a sustainable space environment. The company is currently working on developing a space debris detector and aims to create an ecosystem for small satellites in India. Digantara is also developing an end-to-end infrastructure to manage space operations and space traffic through its Space Mission Assurance Platform.
Elena Geo Systems, based in Bengaluru, is working on NavIC-based monitoring to transform navigation in the Indian region. The company offers advanced technologies that provide precision, stability, security, and reliability for location-based services and applications in the 21st century. Recently, Elena Geo Systems launched India’s first composite NavIC chip.
These are just a few examples of the 22 space tech startups that are driving India’s space tech revolution. Other notable names include Eon Space Labs, GalaxEye Space, InspeCity, Kawa Space, Newspace Research & Technologies, Omnipresent Robot Technologies, Pixxel, Satellize, SatSure, Skyroot, and Vasundhara Geo Technologies.
With the growth of the Indian space tech ecosystem and supportive frameworks like the Indian Space Policy 2023, India is poised to become a major player in the global space economy. The investments and innovations from these startups are propelling the nation to new heights, marking a significant milestone in India’s space exploration journey.
