Space startup Agnikul Cosmos announced on Saturday that it has raised Rs 150 crore in a new funding round at a valuation of over half a billion dollars, and it will use the capital to build reusable launch vehicles.
Moreover, IIT-Chennai-incubated Agnikul demonstrated a suborbital rocket launch last year and plans to deploy its 3D-printed Agnibaan rocket next year to place small satellites into low Earth orbit.
The startup also continues working on recovering the lower stage of its launch vehicle, which it intends to reuse for future missions.
“This fundraiser allows us to work on such missions while also focusing on scaling launch frequency and building for the world, from India,” Srinath Ravichandran, CEO and co-founder of AgniKul Cosmos, said.
Additionally, the funding round attracted participation from family offices and institutional investors such as Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, and 100X.VC.
The company will invest this capital in scaling production units for aerospace and rocket components and advancing its stage-recovery program.
Furthermore, the startup has earmarked a portion of the funds for developing its integrated space campus on the 350 acres allocated by the Tamil Nadu government, which will host end-to-end facilities for manufacturing and testing launch vehicle systems, according to a company statement.
Agnikul will also channel the new funds into strengthening its reusable launch architecture, building on its recently granted patent that extends the operational life of upper stages.
This innovation creates new opportunities for reusability and cost-effective orbital access, marking a major milestone toward developing the world’s first recoverable small-satellite launch vehicle.
“With growing demand and more than a dozen customers eager to launch with us, scaling our operational depth was the natural next step. The indigenous facility, which is planned near the new upcoming launchpad of India, will equip us to serve these missions on schedule and with the responsiveness the market expects,” Moin S P M, co-founder and COO of Agnikul, said.
Agnikul claims to serve customers in India, the Middle East, and Australia and aims to meet a globally distributed launch demand, reinforcing India’s rising leadership in the spacetech sector.
Recently, Agnikul also unveiled a new large-format metal additive manufacturing unit, which will enable it to use 3D printing for multiple subsystems beyond engines.
