Produced by: Tarun Mishra
Designed by: Mohsin Shaikh
Indian space start-up Agnikul Cosmos proudly announced a successful fundraising round, amassing a significant Rs 200 crore. This financial boost comes as the company is eagerly preparing for its inaugural rocket launch
Hailing from Chennai, Agnikul is on the cusp of becoming India's second private space launch enterprise, following in the footsteps of Skyroot’s Vikram-S. As it gains momentum, Agnikul captures the spotlight as a prominent player in India's emerging private space sector
Established in 2017, Agnikul manages India's very first privately-owned launchpad and mission control center. This distinctive feature sets the company apart in a field that has traditionally been dominated by the Indian Space Research Organization (ISRO)
Within the next two months, Agnikul has ambitious plans to launch a sub-orbital rocket from its very own launch pad. This momentous occasion signifies a remarkable leap forward in India's privately-owned space exploration
Agnikul's co-founder and CEO, Srinath Ravichandran, attributes the start-up's flourishing funding campaign to India's groundbreaking lunar mission. In August, India achieved an unprecedented success by landing on the previously unexplored south pole of the Moon, known as Chandrayaan-3
Agnikul's mission is to reduce the costs associated with space launches. The company aims to provide a cost-efficient alternative to existing players in the space market. Their strategy ensures competitive pricing, regardless of the payload's mass
Agnikul is currently in the process of integrating its innovative 2-stage launch vehicle, known as Agnibaan. This cutting-edge rocket has the capability to transport payloads weighing up to 300 kg to orbits situated approximately 700 km above Earth's surface, showcasing its adaptability for a variety of space missions
Arun Kumar, Managing Partner at Celesta Capital, underscores the collaborative spirit prevailing within India's space technology ecosystem. This synergy among ISRO, space regulators, and entrepreneurs is fostering significant advancements in the sector
Agnikul's latest funding round boasts an array of prominent investors, including Rocketship.vc, Artha Venture Fund, Artha Select Fund, Mayfield India, and others. This underscores the widespread interest and support for India's burgeoning private space endeavours
At present, India holds a modest 2% share in the global commercial space market, which boasts a total value of $400 billion. The Indian government is determined to escalate this share to a substantial $40 billion by 2040, and private space startups like Agnikul are pivotal in accomplishing this objective
Backed by a substantial infusion of funds and buoyed by the burgeoning momentum in the Indian space sector, Agnikul Cosmos is poised to make substantial contributions to India's space aspirations and carve a noteworthy niche in the global commercial space market