BAAS Technologies, a Pune-based spacetech startup, has raised ₹5 crore in a pre-seed funding round led by Inflection Point Ventures (IPV), with participation from SINE IIT Bombay and a group of angel investors. The investment marks a significant milestone for the young aerospace company as it accelerates the development of reusable launch vehicles and advanced rocket propulsion systems for India’s growing private space industry.
The startup will deploy the fresh capital to strengthen research and development in both liquid and solid propulsion systems, establish a dedicated rocket propulsion testing facility, expand its manufacturing infrastructure, procure advanced equipment, grow its engineering team, and achieve key engine development and flight-testing milestones.
Founded in 2024 by Tanmay Kanmahale, Prashant Patil, Atharva Pingale, Swayam Sonar, and Shriniwas Hase, BAAS Technologies develops reusable sub-orbital and orbital launch vehicles for research institutions, commercial enterprises, and government agencies. Moreover, the company designs and manufactures its propulsion systems and flight hardware entirely in-house, allowing greater control over product development and innovation.
The spacetech startup is currently developing four launch vehicle series designed for different mission profiles, ranging from research payload missions to satellite deployment. In addition, BAAS Technologies is establishing a 100 kN rocket propulsion testing facility spread across 20,000 square feet, which will support engine validation, qualification, and commercialization activities.
Tanmay Kanmahale, Co-founder, BAAS Technologies, said, “As a founder building in the space sector, where many ideas are dismissed at a very early stage due to the complexity and risk involved, finding the right investment partner matters as much as raising the capital itself. This round puts us in a stronger position to build our launch vehicles, grow our engineering team and contribute to India’s private space sector.”
Furthermore, BAAS Technologies revealed that it has already completed paid pilot programmes in India and is expanding its commercial footprint into Latin America, the Middle East, Southeast Asia, and Australia. The company also benefits from incubation support provided by SINE IIT Bombay, ARAI-AMTIF, and AIC-JKLU, strengthening its research and innovation ecosystem.
Commenting on the investment, Ankur Mittal, Co-founder, Inflection Point Ventures, said, “BAAS is building an end-to-end launch vehicle platform that reflects the company’s strong engineering capabilities and its clear understanding of the growing demands of the global space economy. By developing cost-effective and reliable launch solutions, the company is addressing a crucial market gap in small satellite access to space.”
The funding comes at a time when India’s commercial space industry continues to witness rapid expansion. According to industry estimates, India’s satellite launch services market is projected to grow from $399 million in 2025 to approximately $1.58 billion by 2033. Meanwhile, the country’s overall space economy is expected to expand from around $8 billion to $40–45 billion over the next decade, creating significant opportunities for private spacetech companies.
With fresh funding, expanding global ambitions, and growing technological capabilities, BAAS Technologies aims to play a pivotal role in strengthening India’s position in the global space launch ecosystem while delivering cost-effective launch solutions for the rapidly growing small satellite market.
