Chennai-based spacetech startup AgniKul has raised INR 200 Crore in its series B funding round. To date, the startup has raised $40 million in funding.
The current series B round saw the participation of a number of investors including Celesta Capital, Artha VC, Artha Select Fund, Rocketship.vc, and Mayfield India.
Founded in 2017, AgniKul Cosmos is an Indian aerospace manufacturer based in the National Center for Combustion R&D of IIT Madras, Chennai. As per the organization, the team is working on building Agnibaan, India’s first private small satellite launch vehicle capable of launching a payload of 100 KGs to a low-earth orbit.
AgniKul launched India’s first private launch facility last year in November. The facility was inaugurated by S. Somanath, chairman of the Indian Space Research Organization. As per the startup, the fresh funds will be used to invest in some important areas of growth and commercialization.
“This capital infusion will allow us to prepare for the next step in serving our customers across the world.” – Team AgniKul Cosmos
Humbled to announce our ~$27M Series B fundraise. Beyond validating what we are building as a team, this support from the investor community is also a signal that the entire ecosystem in India is growing. This capital infusion will allow us to prepare for the next step in serving…
— AgniKul Cosmos (@AgnikulCosmos) October 17, 2023