India, once cautious about spending on space missions, has made significant strides in recent years, culminating in a historic 2022. This year saw the first private rocket launch by Skyroot and numerous satellite launches, drawing global attention. The government has played a crucial role by supporting private spacetech startup companies with funding, technology access, and infrastructure. In July last year, the GST Council implemented a 0% GST regime for spacetech startups, as announced by Finance Minister Nirmala Sitharaman. This move aimed to nurture emerging startups in the fast-growing spacetech sector.
Spotlight on Indian Spacetech Startups
100 spacetech startups registered with the Indian Space Research Organisation (ISRO) in just one year, with companies like Microsoft partnering with ISRO to boost the industry. In the 2024 Union Budget, a fund of ₹1,000 crore was announced to further support the sector’s growth. The spacetech sector in India has attracted around $233 million in funding across over 30 deals from 2014 to July 2023 and is projected to reach a market size of $77 billion by 2030. Here is the list of Top 10 Startups in the spacetech sector.
1. Aadyah Aerospace
Aadyah Aerospace was established in 2016 and offers technical solutions for space, aviation, and defense. The Bengaluru-based business is focused on using AI to integrate motion control, communication, and computer vision. They design satellites, launch vehicle subsystems, and drones, and specialize in manufacturing advanced electro-mechanical actuators and control systems for missiles and launch vehicles. Notably, Aadyah developed a cube set dispenser that holds satellites in position during launches until deployment into Low Earth Orbit (LEO). Within a year of its inception, Aadyah secured nearly $1 million from the US-based Keiretsu Forum.
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Aadyah Aerospace aims to revolutionize space and defense technologies through innovation. Their work includes developing cutting-edge electro-optic systems and ensuring that satellite components are securely deployed in space. Their focus on AI integration enhances precision and reliability in satellite operations, making space missions more efficient and successful.
2. Bellatrix Aerospace
Founded in 2015, Bellatrix Aerospace specializes in advanced in-space propulsion systems and rocket propulsion technologies. The company’s goal is to make space more inexpensive and accessible, and it has raised $11.1 million in funding. Bellatrix develops propulsion systems for various satellites, targeting satellite operators engaged in observation, imaging, navigation, and technology applications.
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Bellatrix Aerospace’s propulsion systems are designed to extend the operational life of satellites and make space missions more cost-effective. Their innovative thrusters, which cater to heavy, micro, and nanosatellites, are set to revolutionize how satellites maneuver and maintain their orbits. This technology is crucial for missions requiring precise satellite positioning and long-term sustainability in space.
3. Dhruva Space
Founded in 2012, Dhruva Space offers integrated solutions for space-based applications, including satellites, earth stations, and launching services. The Hyderabad-based startup became the first Indian entity to secure an order for space-qualified solar arrays. In April 2023, Dhruva successfully completed space qualification and testing of its orbital deployers and orbital link.
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Dhruva Space is dedicated to providing end-to-end solutions for satellite missions, from design and development to deployment and operations. Their expertise in building satellite and launcher interfaces ensures that all components work seamlessly together, enhancing the overall success of space missions. Dhruva’s innovative solutions have positioned them as a key player in India’s rapidly growing spacetech startup sector.
4. GreenSat Innovation Labs
Founded in 2020, GreenSat leverages satellite imagery, AI, and blockchain to transform agricultural activities. The startup offers crop monitoring services, crop loans, and insurance. GreenSat captures data through satellite datasets and uses AI to process images, providing insights to farmers to improve cultivation. The startup also facilitates loans and guarantees the sale of farmers’ produce.
GreenSat Innovation Labs, a spacetech startup, uses advanced technology to support farmers in making better decisions and securing financial stability. By providing real-time data on crop health and environmental conditions, GreenSat helps farmers optimize their farming practices and increase yields. Their financial services, including loans and insurance, offer additional support, ensuring that farmers have the resources they need to succeed.
5. InspeCity
Founded in 2022, InspeCity is a satellite servicing spacetech startup based in Mumbai and incubated at IIT Bombay. The company offers satellite life-enhancing and deorbiting services and is developing an autonomous robotic platform to service satellites in space. InspeCity aims to build space-based cities capable of housing 1 million people by 2030.
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InspeCity’s vision of autonomous satellite servicing represents a significant advancement in space technology. Their robotic platform will enable the maintenance and repair of satellites while in orbit, extending their operational life and reducing the need for costly replacements. This innovation is a crucial step towards creating sustainable and efficient space infrastructure, paving the way for future space-based habitats.
6. Newspace Research & Technologies
Newspace Research & Technologies is a Bengaluru-based company with headquarters in Delhi NCR that develops AI and unmanned aerial systems, among other cutting-edge aerospace technologies. An ex-Indian Air Force officer founded the firm in 2017, and since then, it has raised $21 million in funding and landed a contract with the Ministry of Defence to construct a High-Altitude Pseudo Satellite (HAPS) for use in surveillance systems.
Newspace Research & Technologies is at the forefront of developing advanced aerospace systems, focusing on unmanned aerial vehicles (UAVs) and AI-driven solutions. Their High-Altitude Pseudo Satellite (HAPS) can conduct long-duration surveillance operations, providing critical data for defense and security applications. This development demonstrates India’s expanding prowess in the fields of aerospace, defense technologies, and spacetech startups.
7. Pixxel
Founded in 2019, Bengaluru-based Pixxel is building a high-resolution hyperspectral imaging satellite constellation. This spacetech startup offers AI-powered insights for real-time climate issue analysis. Pixxel launched its third hyperspectral satellite, Anand, in 2022 and has secured $25 million in funding. The startup aims to launch six commercial satellites to sell data.
Pixxel’s hyperspectral imaging technology captures detailed images of Earth’s surface, providing valuable insights for climate monitoring and environmental analysis. Their satellites can detect subtle changes in the environment, helping to identify issues like pollution, deforestation, and natural disasters. By offering real-time data and analysis, Pixxel supports efforts to address global environmental challenges.
8. Satellize
Established in 2018, Satellize, formerly known as Exseed Space, specializes in the development of customized nanosatellites. In addition, this spacetech startup provides its international clients with an extensive range of related services and solutions. Satellize currently has two satellites orbiting the Earth and plans to soon launch an experimental satellite designed for high-frequency radio transmission. Utilizing its space technology, the firm also addressed the difficulties brought up by the Covid-19 pandemic. Responding to the increased demand for ventilators, Satellize utilized its expertise in creating reliable electronics control systems to develop a ventilator control system capable of transforming any household vacuum cleaner into a fully functional ventilator.
Satellize’s innovative approach to satellite technology and their ability to quickly adapt their expertise to address urgent needs demonstrate their versatility and commitment to innovation. Their nanosatellites offer cost-effective solutions for a variety of space missions, making space technology more accessible to a broader range of users.
9. SatSure
A spacetech startup based in Bengaluru, SatSure was founded in 2017 by Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju. The company leverages satellite data to provide ‘decision intelligence’ to the infrastructure, agriculture, and BFSI sectors. The business says it is enabling all of its users to readily consume space data. It also offers a SaaS product that enables users to create their own solutions, besides providing APIs, thus allowing easy consumption of space data for multiple use cases. Earlier in 2022, SatSure had acquired Philadelphia-based geospatial company Old City Innovations (formerly Geospoc LLC) to expand its footprint in North America.
SatSure’s focus on providing actionable insights from satellite data has significant implications for industries like banking, agriculture, and infrastructure. By making space data accessible and easy to use, SatSure enables businesses to make informed decisions based on real-time information. Their acquisition of Old City Innovations highlights their commitment to expanding their capabilities and reaching new markets.
10. Skyroot Aerospace
Skyroot Aerospace, founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, has made headlines as India’s first private company to develop and test a cryogenic rocket engine. The business, based in Hyderabad, wants to offer small satellite operators dependable and reasonably priced launch solutions. Skyroot’s Vikram series of rockets are designed to cater to the growing demand for small satellite launches, offering a cost-effective and efficient solution for accessing space.
Skyroot Aerospace’s success in developing a cryogenic rocket engine is a testament to India’s growing capabilities in spacetech startup sector. Their focus on small satellite launches addresses a critical need in the spacetech industry, providing affordable and reliable access to space for various applications. Skyroot’s innovative approach and technological advancements position them as a key player in the global spacetech market.
India’s spacetech sector is experiencing rapid growth, driven by innovative startups and supportive government policies. Companies like Aadyah Aerospace, Astrogate Labs, Bellatrix Aerospace, Blue Sky Analytics, Dhruva Space, GreenSat Innovation Labs, InspeCity, Kawa Space, Newspace Research & Technologies, Pixxel, Satellize, SatSure, and Skyroot Aerospace are at the forefront of this transformation, developing cutting-edge technologies and solutions that are making space more accessible and affordable. As these startups continue to innovate and expand, they are poised to play a significant role in shaping the future of space exploration and technology on a global scale.
