Sychedelic raises $3.5 Mn to expand AI-Powered Neurotech Wellness Platform

May 20, 2026

The global mental wellness and consumer neurotechnology market continues to witness rising investor interest as startups increasingly combine neuroscience, artificial intelligence, and wearable technology to build personalised health solutions.Sychedelic has raised $3.5 million, approximately ₹31.5 crore, in a seed funding round led by TurboStart, Ideabaaz, and Praveek Ventures, alongside participation from angel investors across India, the UAE, and the NRI ecosystem.

Based in Gurugram and New York City, the startup was founded by Ria Rustagi and Bhavya. The company is developing what it describes as the world’s first closed-loop neuromodulation wearable built in a headphone-style format for everyday use, positioning itself at the intersection of neurotech, AI-driven wellness, and consumer healthcare.

At the centre of the company’s product ecosystem is a wearable device that combines neurostimulation, biometric sensing, and adaptive artificial intelligence to analyse and respond to users’ mental states in real time. The platform integrates technologies including transcranial direct current stimulation (tDCS), binaural beats, and heart rate variability (HRV) biofeedback to create personalised neuroadaptive experiences focused on reducing stress, improving concentration, enhancing sleep quality, and supporting cognitive wellness.

According to the company, the newly raised capital will be utilised to strengthen marketing initiatives, scale manufacturing operations, expand research and development efforts, and support its upcoming global Kickstarter launch planned for May 2026.

Over the past six months, more than 100 early adopters have reportedly tested the product, enabling the startup to refine its hardware systems, stimulation technology, and AI-powered adaptive algorithms through continuous real-world feedback and usage data.

The company has also achieved a significant regulatory milestone after receiving approval from the Central Drugs Standard Control Organisation, granting the product medical device status in India. In addition, Sychedelic has filed multiple international patent applications that currently remain under patent-pending status.

With operations already established across India and the United States, the startup is now preparing for a broader international expansion as it seeks to strengthen its position within the rapidly evolving neuro-wellness and wearable technology market.

The funding reflects a broader shift within the global healthtech ecosystem, where startups focused on mental wellness, AI-powered healthcare, biometric intelligence, and neurotechnology are increasingly attracting investor attention amid rising consumer demand for proactive and personalised wellness solutions.

ONO raises $1.Mn to strengthen AI-Led Agri Finance Infrastructure

BRL Editor

May 19, 2026

India’s agritech and rural finance ecosystem continues to attract investor attention as startups focus on improving credit access and operational efficiency across the agricultural supply chain. In the latest development, ONO has raised $1.2 million in a pre-Series A funding round to scale its data and AI-powered platform designed for India’s post-harvest agricultural ecosystem.

The funding round was led by Aeravti Ventures with participation from Tremis Capital and a group of angel investors. The investment also marks Aeravti Ventures’ second backing of ONO after previously leading the startup’s seed round.

Founded by Rama Rao Kancharapu and David Pokuri, the startup is focused on addressing long-standing inefficiencies within India’s post-harvest agricultural supply chain. The company aims to improve access to formal credit, reduce operational bottlenecks, and enable stronger long-distance market connectivity for agricultural small and medium enterprises across the country.

India’s agricultural supply chain has traditionally faced challenges including fragmented market structures, limited access to structured data, weak trust networks between buyers and sellers, and restricted access to institutional finance for farmers and agri-traders. Participants operating across long-distance agricultural trade routes often lack reliable tools for counterparty verification, risk assessment, and rapid working capital access.

ONO stated that it has developed a technology-driven intelligence platform that operates across this ecosystem by providing real-time insights into pricing, logistics, market behaviour, and trading volumes. The platform is designed to support farmers and agri-SMEs with faster payments, improved price discovery, and reduced transaction risks throughout the supply chain.

Rama Rao Kancharapu said, “The agricultural supply chain continues to operate with significant inefficiencies due to a lack of structured data, trusted networks, and timely access to finance. At ONO, we are building a technology and intelligence layer for the post-harvest ecosystem that enables stakeholders to make faster, smarter, and more reliable decisions, and more importantly, get timely access to fair credit. With Aeravti Ventures continuing to back us in this journey, we are focused on scaling our lending and market infrastructure capabilities across India.”

According to the company, ONO has already facilitated more than ₹100 crore in co-lending while maintaining a non-performing asset ratio of just 0.05%, significantly lower than conventional agricultural lending benchmarks. Beyond financing, the startup is also working to reduce fraud and payment defaults in long-distance agricultural trade, where produce and capital frequently move across hundreds of kilometres between parties without prior business relationships.

The platform currently operates across 12 states and more than 125 districts, serving over 1.3 lakh ecosystem participants including farmers, commission agents, traders, transporters, and buyers. The company also claims to have more than 2,000 paid subscribers, facilitated over ₹200 crore in beneficiary payouts, and enabled the movement of more than 25,000 metric tonnes of agricultural produce through long-distance markets.

Rishabh Singh said, “ONO is solving one of the most critical infrastructure gaps within Indian agriculture, building trust, transparency, and financial accessibility across post-harvest supply chains. The company’s ability to leverage data and AI to unlock market access and reduce inefficiencies at scale strongly aligns with our investment thesis at Aeravti Ventures. Having partnered with ONO since its seed stage, we continue to remain highly confident in the team’s execution capabilities and long-term vision.”

The funding comes shortly after ONO acquired a significant stake in a non-banking financial company, a move expected to strengthen its lending infrastructure and expand direct credit access for underserved agri-SMEs. The startup is also preparing for a larger Series A funding round as it looks to scale its presence further across India’s agricultural markets.

The development reflects a broader trend within India’s agritech ecosystem, where startups leveraging artificial intelligence, data-driven decision-making, and digital finance infrastructure are playing a growing role in formalising agricultural trade, improving financial inclusion, and modernising rural supply chains.

Lords Hotels & Resorts announces new Amritsar Hotel just steps away from the Golden Temple

BRL Editor

May 19, 2026

Lords Hotels & Resorts has announced the signing of a new hotel in Amritsar, further strengthening the group’s presence across key spiritual and leisure destinations in India. The upcoming property, Lords Inn Amritsar, is strategically located just 80 steps from the revered Golden Temple, making it among the closest hotels in the vicinity of the holy shrine.

The hotel is scheduled to become operational by June 2026 and is poised to offer guests a seamless blend of comfort, convenience, and warm hospitality in the heart of the city.

Located in the historic core of Amritsar near prominent attractions such as Jallianwala Bagh, Akal Takht, and the city’s vibrant local markets, the hotel enjoys exceptional accessibility for pilgrims, tourists, and families visiting the city.

Speaking on the new agreement, Pushpendra Bansal, COO, of Lords Hotels & Resorts, said, “Amritsar is one of India’s most important spiritual and tourism destinations, and this signing further strengthens our presence in high-potential pilgrimage markets. We thank our partners for their trust and look forward to delivering Lords’ signature hospitality experience in the heart of the city.”

The 54-room property will feature well-appointed rooms, contemporary amenities, dining facilities, and personalized guest experiences thoughtfully designed for pilgrims, families, and leisure travellers visiting Amritsar.

Commenting on the signing, Vikas Suri, Vice President, Lords Hotels & Resorts, said, “We are delighted to announce Lords Inn Amritsar, strategically located just 80 steps from the Golden Temple. The hotel will offer guests unmatched convenience, comfort, and warm hospitality in the heart of the city, making it an ideal stay destination for travellers seeking both spiritual connectivity and a memorable hospitality experience.”

Amritsar continues to remain one of India’s most visited spiritual destinations, attracting devotees and travellers from across the globe. The city’s rich cultural heritage, authentic Punjabi cuisine, and spiritual significance make it a high-potential hospitality market with year-round demand.

With this signing, Lords Hotels & Resorts continues its expansion momentum across India and Nepal, reinforcing its commitment to delivering quality hospitality experiences across business, leisure, and pilgrimage destinations.

About Lords Hotels & Resorts

Lords Hotels & Resorts is one of India’s leading mid-market hospitality brands, known for delivering quality stays across leisure, business, and pilgrimage destinations in India and Nepal. With a steadily expanding portfolio, the brand remains committed to offering value-driven experiences backed by reliable service and warm hospitality.

Sattva Group expands Premium Hospitality Portfolio across India

BRL Editor

May 18, 2026

Sattva Group expands Premium Hospitality Portfolio across India — Adrija Agarwal, President, Sattva Group

India’s hospitality industry continues to witness strong momentum as rising travel demand, higher room rates, and growing interest in luxury and experience-led stays fuel expansion across the sector. Amid this evolving landscape, Sattva Group is accelerating its presence within the premium hospitality segment through new developments across key Indian markets.

The Bengaluru-based real estate company is expanding its hospitality footprint in cities including Bengaluru, Hyderabad, Visakhapatnam, and Darjeeling, reflecting growing confidence in the long-term outlook for India’s tourism, business travel, and premium accommodation markets.

Sattva Group has already established a presence in the hospitality sector through developments such as JW Marriott Hotel Kolkata and Novotel Kolkata Hotel and Residences. These projects highlight the company’s strategic focus on upscale and premium hospitality infrastructure within high-growth urban and destination markets.

The expansion comes during a period of sustained growth for India’s hotel industry, which continues to benefit from strong post-pandemic travel recovery. Domestic tourism, corporate mobility, weddings, MICE demand, and experiential leisure travel are contributing to rising occupancy levels and stronger average daily room rates across major cities and tourism-driven destinations.

Hospitality is increasingly emerging as a key strategic vertical for Indian real estate developers, particularly as integrated townships, mixed-use developments, and urban infrastructure projects create new opportunities for branded hotels, serviced residences, and lifestyle-oriented hospitality assets.

Industry observers believe demand for premium hospitality infrastructure is expected to remain resilient in the coming years, supported by improving air connectivity, rising disposable incomes, growing domestic tourism activity, and changing consumer preferences centred around experience-driven travel.

With its expanding hospitality pipeline, Sattva Group joins a broader wave of Indian developers increasing investments in hotels and travel infrastructure as hospitality assets become more closely linked to urban development, destination growth, and long-term real estate strategy.

Paytm launches ‘Pocket Money’ feature for Teenagers without Bank Accounts

BRL Editor

May 18, 2026

India’s digital payments ecosystem continues to evolve as fintech platforms expand services aimed at younger users and family-led financial management. In the latest move within the consumer fintech space, Paytm has introduced ‘Pocket Money’, a feature designed to enable teenagers to make UPI payments without requiring their own bank accounts.

The feature is built on National Payments Corporation of India’s UPI Circle framework, allowing parents or family members to provide supervised spending access to teenagers through the Paytm application. The launch reflects growing demand for controlled digital payment solutions tailored for younger consumers within India’s expanding UPI ecosystem.

According to the company, teenagers can use the feature for everyday transactions including school and college canteen payments, metro travel, cab rides, mobile recharges, and shopping purchases. Parents are also provided with the ability to set monthly spending limits and monitor transactions in real time, enabling greater oversight and spending control.

Under the framework, individual transactions are capped at ₹5,000, while the overall monthly limit across the UPI network is restricted to ₹15,000. The feature is currently supported on savings and current accounts, while services such as international payments and cash withdrawals remain unavailable.

The company stated that teenagers can make payments directly from their own devices without requiring access to parental smartphones, OTP verification sharing, or QR-code forwarding through messaging applications. Paytm has also integrated the feature with its ‘Spend Summary’ tool, which categorises expenses to help families monitor spending behaviour and manage allowances more efficiently.

To strengthen security and fraud prevention, the Pocket Money feature includes additional controls such as a ₹500 transaction limit during the first 30 minutes after activation and a ₹5,000 cap during the first 24 hours. Device lock functionality is mandatory, while parents retain the ability to modify limits or revoke access at any time using their Paytm UPI PIN.

The service is available on the latest versions of the Paytm app across both Android and iOS platforms.

The launch comes amid increasing competition within India’s youth-focused fintech segment. Startups including Fam, Walrus, and Junio had previously introduced supervised spending solutions for minors through prepaid cards and digital wallets. However, several fintech players including Fam, Akudo, and Muvin faced operational challenges after the Reserve Bank of India restricted co-branded prepaid payment instrument-based UPI arrangements for companies without independent PPI licences.

Unlike earlier models, Paytm’s Pocket Money feature is integrated directly with NPCI’s UPI Circle infrastructure, enabling delegated UPI transactions without requiring teenagers to independently open bank accounts. The move reflects the broader shift towards regulated, infrastructure-backed digital payment systems as India’s fintech ecosystem continues to expand financial accessibility and digital payment adoption.

CRAON Raises Funding to Expand AI-Powered Video Editing Platform

BRL Editor

May 15, 2026

CRAON Raises Funding to Expand AI-Powered Video Editing Platform — (L to R) Rishabh Sagar, Dishant Narang, and Chaitanya, co-founders, CARON

CRAON, an AI-powered video editing platform, has raised a pre-seed funding round at a valuation of $1 million from a global venture capital firm to accelerate the growth of its prompt-based video editing platform.

The startup plans to utilise the newly raised capital to strengthen product development capabilities and scale user acquisition initiatives. According to the company, the next funding round is expected within the coming two to three months as it expands operations within the rapidly growing AI content creation market.

Founded by Rishabh Sagar along with Dishant Narang and Chaitanya, CRAON focuses on simplifying one of the most time-consuming stages of content production: video editing. While advancements in filming technology and digital distribution have accelerated content creation, editing workflows continue to remain a significant operational challenge for creators, marketing teams, agencies, and freelance editors working under high-volume and fast-turnaround requirements.

The platform enables users to generate edited videos through prompt-based instructions, allowing creators to describe the intended outcome while the system manages the assembly of cuts, subtitles, music, and visual elements. Unlike fully AI-generated video systems, CRAON works directly with real footage and allows users to refine outputs through iterative feedback without rebuilding entire sequences from scratch.

The company’s approach reflects the broader shift towards AI-powered creative tools aimed at improving productivity, reducing manual workflows, and supporting scalable content production. As businesses and creators increasingly prioritise speed, efficiency, and digital-first storytelling, AI-led editing infrastructure is emerging as a rapidly growing segment within the creator technology ecosystem.

Rishabh Sagar said, “Although advancements in filming and distribution have accelerated amid the rapid expansion of India’s creator economy, video editing remains a time-intensive bottleneck. We at CRAON are addressing this challenge, by enabling creators and teams to transition efficiently from concept to production-ready output while preserving creative control.”

The funding comes at a time when AI-driven creator tools, automation platforms, and digital media technologies are experiencing significant global growth. As demand for short-form video, branded content, and performance-led digital marketing continues to rise, startups building intelligent creative infrastructure are expected to play a larger role in shaping the future of content production and creator workflows.

Urban Vault Expects Fit-Out and Facility Management Business to Generate ₹50 Crore Revenue in FY27

BRL Editor

May 15, 2026

Bengaluru, May 15, 2026: Urban Vault, one of India’s leading managed and flexible workspace providers, expects its fast-growing design, fit-out, and facility management business for offices to generate approximately ₹50 crore in revenue in FY 2026–27, driven by increasing demand from large enterprises seeking turnkey office solutions.

The company has witnessed a growing trend among corporates and multinational companies to outsource office design, interior fit-outs, furnishing, and ongoing facility management rather than making large upfront capital investments in creating and operating workspaces.

Under this model, enterprises partner with specialized companies such as Urban Vault to design and build ready-to-move-in offices and manage day-to-day operations, allowing them to focus on their core business while reducing execution timelines and operational complexity.

Recently, Urban Vault completed the design and furnishing of a large office for a leading IT services company in Mumbai. The company delivered the fully operational workspace within just 90 days, showcasing its ability to execute large-scale projects within tight timelines.

In addition to designing and furnishing the office, Urban Vault has also secured a five-year facility management contract for the same client, under which it will oversee maintenance and operational services.

The agreement has generated an upfront revenue of approximately ₹25 crore for fit-out and furnishing, along with recurring revenue of around ₹15 crore annually over the next five years, taking the total contract value to nearly ₹100 crore.

Speaking on the development, Mr. Amal Mishra, Co-founder and CEO of Urban Vault, said: “We are seeing strong interest from enterprises that want fully managed office solutions without the burden of investing time and capital in office construction and ongoing maintenance. Our ability to design, deliver, and manage large offices within a short timeframegives clients a faster and more efficient route to occupancy. We believe this business segment will become a significant growth driver for Urban Vault over the coming years.”

Traditionally known for its managed office and flexible workspace solutions, Urban Vault has expanded its offerings to include end-to-end workplace solutions covering strategy, design, fit-outs, furnishing, and facility management.

The company believes this integrated model addresses a growing need among enterprises for speed, flexibility, and operational efficiency in workplace creation.

With the successful execution of large enterprise mandates and increasing client interest, Urban Vault expects the fit-out and facility management vertical to emerge as an important contributor to its overall business and a key component of its long-term growth strategy.

Over the years, UrbanVault has expanded its national portfolio to over 2.80 million sq. ft., managing 70,000+ seats across 80+ locations in Bengaluru, Pune, Gurugram, and other major cities. The company continues to demonstrate strong performance, with an expected turnover of over ₹200 crore in FY2025-26, 70%+ year-on-year growth, and 18% PAT.

ABOUT Urban Vault

Founded in 2018, UrbanVault is a bootstrapped managed office space provider headquartered in Bengaluru, achieving impressive growth and profitability without external funding. The company recorded a ₹120 crore turnover in FY 2024–25, with 18% profit after tax and consistent year-on-year growth, reflecting strong financial discipline and sustainable business practices.

UrbanVault’s decision to self-fund its expansion has enabled it to maintain full control over operations and strategic direction. Since inception, the company has grown from a modest 40 seats to more than 70,000 seats across its network. Spanning over 2.80 million square feet across multiple cities, UrbanVault’s portfolio demonstrates its commitment to delivering value-driven, high-quality workspace solutions for a diverse set of enterprises.

Legend of Toys raises ₹21 Crore Pre-Series A Round to Build India’s First Premium Play Universe

BRL Editor

May 15, 2026

National, 15th May 2026: Legend of Toys, a mass premium Indian toy brand, has raised ₹21 crore in its Pre-Series A funding round, with participation from Singularity Early Opportunities Fund, Veltis Capital, Enzia Ventures, DeVC, Atrium Angels and Stride. The capital will support the brand’s next phase of growth across new play categories, consumer marketing, digital expansion, manufacturing and international markets.

India’s toy market is undergoing a structural shift, driven by higher import duties, tighter quality standards and a stronger push for domestic manufacturing. Government data shows that India’s toy imports declined by 52% while toy exports rose by 239% between FY2014-15 and FY2022-23, reflecting a broader move from import dependence to local production and global supply. The policy environment has also become more supportive for compliant domestic brands, with toys brought under compulsory BIS certification from January 2021 under the Toys Quality Control Order. This shift is creating room for Indian toy brands that can combine product quality, design, durability and stronger consumer engagement.

Founded by Afshaan Siddiqui and Vinay Jaisingh, both ISB Class of 2017 alumni with operator backgrounds at Livspace, Supertails and Unacademy, Legend of Toys is building high-quality, character-driven toys at the intersection of performance, storytelling and collectibility. The brand’s product lineup spans RC Drift Cars, Off-Road RC Trucks, 1:64 tabletop RC Drift Cars and High-Speed RC Cars, priced between ₹1,599 and ₹8,799.

At the heart of Legend of Toys is a richly imagined universe where every character has a backstory and a role to play. Each product is designed not only as a toy, but as part of a larger narrative that allows children, enthusiasts and collectors to engage with the brand beyond a single purchase. This storytelling-led approach is helping the brand build a deeper emotional connection with its community.

The company has achieved ₹30 crore ARR within 18 months, with a current growth trajectory of 20% month-on-month. The brand has also built strong consumer demand through bestselling SKUs and a high proportion of unit-economics-positive sales through its direct-to-consumer channel, indicating strong brand pull in the market.

Commenting on the announcement, Vinay Jaisingh, Co-Founder, Legend of Toys, said, “We started Legend of Toys with a simple but stubborn belief — that India can build a toy brand the world actually wants to play with. The early response from consumers has been genuinely encouraging, and it tells us the category was ready for something new. Now we get to do the fun part: expand into new categories, strengthen manufacturing, and build the kind of company that can go the distance.”

Afshaan Siddiqui, Co-Founder, Legend of Toys, added, “For us, a toy is never just a product. It is a character, a story and an experience. We are building Legend of Toys as a world built on adventure, thrill and excitement — one that kids, enthusiasts and collectors keep coming back to. Our focus remains on great products, real storytelling, strong community and long-term trust as we expand the brand in India and beyond.”

Gokul Gopal, Managing Partner, Veltis Capital, said, “It’s been a privilege to watch the partnership between Legend of Toys and Veltis Capital over the last year. Afshaan and Vinay embody true founder-market fit — deeply passionate about toys and cars, obsessive about quality and building with real depth across product, manufacturing and brand. We are incredibly excited about what lies ahead and believe Legend of Toys has the potential to become a large global toy brand built from India, creating world-class products for children and collectors.”

Karuna Jain, Managing Partner and Founder, Enzia Ventures, said, “India is on the cusp of becoming a global manufacturing powerhouse, and Legend of Toys is going after one of its most overlooked opportunities: building a homegrown toy brand for the Indian kidult. Vinay and Afshaan aren’t just making toys; they’re building trust through a repair-not-replace model that is almost unheard of in this category. That kind of conviction, paired with real operating chops, is rare. We backed them because we believe this is how a category-defining, globally relevant brand gets built out of India.”

The proceeds from the Pre-Series A funding will be deployed across three fronts: expansion into new play categories including DIY and adjacent formats; strengthened sourcing and manufacturing capabilities; and stepped-up investment in consumer marketing and digital presence across India and global markets. The brand will also continue to build its Kidult collector community, an underserved yet high-engagement audience in the Indian toy space.

What sets Legend of Toys apart is its focus on building lasting consumer relationships rather than a purely transactional purchase experience. The brand engages closely with its community and uses real consumer feedback to continuously improve its products and experience. Complementing this is its free Lifetime Service offering, aimed at ensuring that every Legend of Toys product is supported long after purchase and built around durability, trust and after-sales care.

As Legend of Toys enters its next phase of growth, the brand remains focused on building a globally recognised Indian premium play brand, combining design, storytelling, performance, community and long-term product support.

About Legend of Toys

Legend of Toys is an Indian toy brand co-founded by Afshaan Siddiqui and Vinay Jaisingh. Built around a character-driven universe, the brand combines product performance, design quality and storytelling to create toys that go beyond a single transaction. Its current lineup includes RC Drift Cars, Off-Road RC Trucks, 1:64 tabletop RC Drift Cars and High-Speed RC Cars, priced between ₹1,599 and ₹8,799.

The brand’s free Lifetime Service offering reflects its commitment to long-term consumer trust and after-sales support. With its Pre-Series A funding, Legend of Toys is expanding categories, scaling manufacturing, growing its community and preparing for global markets.

Eco Hotels Partners With My Travel Bazaar to Strengthen Travel Services Network

BRL Editor

May 14, 2026

India’s travel and hospitality industry is increasingly moving towards integrated service ecosystems as companies seek to deliver seamless travel experiences through technology-led partnerships. In the latest development, Eco Hotels and Resorts Limited has entered into a strategic partnership with My Travel Bazaar to expand its travel and hospitality offerings across the B2B segment.

The collaboration aims to enhance customer access to a unified platform that includes airline bookings, hotel reservations, railway ticketing, and end-to-end hospitality and travel services. Through the partnership, the companies will also gain access to a network of more than 20,000 travel agents, significantly strengthening their distribution reach and service capabilities within the travel ecosystem.

The partnership was formalised following discussions between Vinod Kumar Tripathi and the leadership team of My Travel Bazaar, including Bhavesh Oza. Both organisations stated that the alliance is built around a shared focus on service quality, customer-centric solutions, and sustainable business growth.

The collaboration combines Eco Hotels’ emphasis on eco-conscious hospitality with My Travel Bazaar’s capabilities in travel technology and distribution. The partnership is expected to support more streamlined travel planning, curated accommodation experiences, and improved operational efficiency for customers and travel partners, particularly in the B2B market.

Commenting on the partnership, Vinod Kumar Tripathi said: “This partnership with My Travel Bazaar marks an important milestone in our growth journey. By combining our strengths in hospitality with their expertise in travel services and distribution, we aim to create a more integrated and seamless experience for our customers. We believe this collaboration will not only enhance value but also set new benchmarks in service excellence and sustainable growth.”

The announcement reflects a broader trend across the hospitality and travel sectors, where companies are increasingly leveraging digital transformation, integrated booking ecosystems, and strategic collaborations to improve customer experience and operational scalability. As travel demand continues to rise, partnerships that combine hospitality, technology, and distribution networks are expected to play a growing role in shaping the future of the travel industry.

Dhruva Space Secures ₹105-Cr Government Grant for Satellite Manufacturing Initiative

BRL Editor

May 14, 2026

Hyderabad-based startup, Dhruva Space has secured a grant of ₹105 crore under the Government of India’s Research, Development and Innovation Fund (RDIF) to support its satellite manufacturing initiative, Project Garud.

The startup stated that the funding will be utilised to develop a next-generation 500 kg-class satellite platform designed for large-scale constellation deployments. The grant was formally announced on May 13, 2026, during the inaugural Enterprise Technology Evaluation agreement signing ceremony in New Delhi, which also marked the first fund disbursement under the government’s ₹1 lakh crore Research, Development and Innovation Scheme.

The event was attended by Jitendra Singh, Ajay Kumar Sood, along with senior government officials. Dhruva Space is among the first group of companies to receive support under the RDIF initiative, reflecting growing institutional backing for India’s private space ecosystem.

Project Garud aims to address a major challenge within the global satellite industry, where spacecraft are traditionally custom-built for individual missions, often leading to long development cycles and limited scalability. The programme focuses on creating a standardised and production-ready satellite platform within the 300 to 500 kg category that can be manufactured repeatedly and at scale.

The platform is being developed using a flat-pack architecture that enables multiple satellites to be efficiently stacked inside launch vehicles. This approach is expected to reduce system integration timelines, improve deployment efficiency, and support the growing demand for constellation-scale satellite deployments rather than standalone spacecraft missions.

According to the company, the platform is being designed for a wide range of applications, including telecommunications, earth observation, national security, and emerging data-driven use cases. Beyond satellite development, the initiative also includes building the manufacturing infrastructure, industrial tooling, and scalable production systems required for high-volume satellite manufacturing.

Dhruva Space’s long-term roadmap targets a production capability of up to two satellites per day, translating to an annual manufacturing capacity of approximately 500 to 600 satellites across multiple mission configurations. The development aligns with the broader global shift towards constellation-based satellite networks and increasing demand for scalable spacecraft manufacturing solutions.

Abhay Egoor said, “Project Garud represents the industrialisation of satellite manufacturing from India. The global market is rapidly moving toward constellation-scale deployments, but the supply side for reliable, production-ready spacecraft platforms remains constrained. Through RDIF, Dhruva Space is building an indigenous satellite platform and manufacturing ecosystem capable of supporting high-volume deployment requirements across communications, intelligence, and strategic applications.”

“Our objectives are to build satellites for our own missions, and to position Dhruva Space as a globally competitive spacecraft OEM and subsystem supplier. The RDI programme strengthens India’s Space technology stack across Platform Architecture, Avionics, Power systems, and scalable manufacturing capabilities. Project Garud also speaks of our long-term vision toward enabling spacecraft solutions for higher orbital regimes, including MEO and GEO-class missions in the future,” he added.

The funding reflects the increasing importance of India’s private spacetech ecosystem as the country accelerates investments in advanced manufacturing, aerospace innovation, and strategic space infrastructure. With global demand for satellite constellations continuing to rise, startups focused on scalable spacecraft production and indigenous technology development are expected to play a larger role in shaping the future of the global space economy.

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