Space-tech start-ups raise $10.8 million funding in January-July period of 2024
4 months, 3 weeks ago

Space-tech start-ups raise $10.8 million funding in January-July period of 2024

New Indian Express  

BENGALURU: After witnessing a record funding of $126 million in 2023, space tech start-ups in the country have seen $10.8 million funding so far in 2024. India, which is home to more than 100 space tech start-ups, has not yet seen any late-stage funding in the last two to three years. Bengaluru-based start-ups have contributed to over 55% of the total funding in this space, and it is also the city with the highest number of space tech start-ups. With a total funding of $99.8 million, Skyroot is the highest-funded active space tech start-up in this space, followed by Pixxel with a funding of $71.7 million and Agnikul with $61.5 million.

Space Bengaluru Tech Funding Million Raise  tech  januaryjuly  2024  space  108  startups  seen  2023  million  raise  sector  period  total  spacetech  funding

History of this topic

Start-up funding sees six per cent surge in funding at 11.3 billion dollars in 2024
5 days, 13 hours ago

Start-up funding sees six per cent surge in funding at 11.3 billion dollars in 2024

New Indian Express  

BENGALURU: In 2024, the start-up ecosystem saw a marginal 6% increase in funding at $11.3 billion compared to $10.7 billion in 2023. However, this is a 56% decline compared to 2022 as start-ups raised a record $25.4 billion in funding in that year, said SaaS-based market intelligence platform Tracxn in its India Tech Annual Report 2024 on Thursday. According to …

VC funding in start-ups rises to $6.53 bn, PEs invest $4.69 bn in January-November
2 weeks, 5 days ago

VC funding in start-ups rises to $6.53 bn, PEs invest $4.69 bn in January-November

New Indian Express  

Meanwhile, private equity funding in start-ups stood at $4.69 billion in January-November 2024, compared to $4.59 billion in 2023 and $14.95 billion in 2022 during the same period. Zepto raised $665 million in June and in August, it raised $340 million, and these were the top two funding rounds in 2024 so far. Late-stage funding remains cautious, with constrained valuations.” …

Indian Startups Secure Record Funding in October, But Funding Slumps
1 month, 2 weeks ago

Indian Startups Secure Record Funding in October, But Funding Slumps

Deccan Chronicle  

Indian startups attracted funding of Rs 1.2 billion in October, indicating a rebound from the funding winter. However, funding was subdued both on a year-on-year and sequential basis. Fintech, e-commerce, and education startups led the funding activity, with Bengaluru and Mumbai-based startups playing a significant role.

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions
1 month, 4 weeks ago

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions

Firstpost  

India has approved a $119 million venture capital (VC) fund to support space start-ups in the country. The fund will provide capital to 40 start-ups over the next five years, with an average deployment amount ranging from Rs 10-60 crore. This fund is expected to have a significant impact on India's space ambitions, boosting the country's space economy and creating …

India's space tech sector grew 235% in 2 Years, secured $126 million in 2023
4 months, 3 weeks ago

India's space tech sector grew 235% in 2 Years, secured $126 million in 2023

India Today  

India’s space tech sector is set for significant growth, driven by substantial government investment and strategic initiatives. According to Tracxn’s Space Tech Geo Report 2024, India’s growing Space Tech sector witnessed record-breaking funding of $126 million in 2023, a 7% increase from the $118 million raised in 2022 and a 235% increase from $37.6 million in 2021. Despite a global …

Bengaluru's GDP is projected to grow at 8.5 % till 2035: Karnataka minister Priyank Kharge
4 months, 3 weeks ago

Bengaluru's GDP is projected to grow at 8.5 % till 2035: Karnataka minister Priyank Kharge

Hindustan Times  

Karnataka Minister Priyank Kharge stated that it was a proud moment for him to release the Bengaluru Innovation Report 2024, curated by 3one4 Capital and the Startup Vision Group. On X, he shared that Bengaluru's GDP is projected to grow at 8.5 percent until 2035. Bengaluru's GDP is projected to grow at 8.5 % till 2035: Karnataka minister Priyank Kharge …

Karnataka govt. offered ₹60 crore funding to 263 start-ups
4 months, 4 weeks ago

Karnataka govt. offered ₹60 crore funding to 263 start-ups

The Hindu  

As many as 263 start-ups were offered funding of over ₹60 crore by the Department of Information Technology and Biotechnology of Karnataka in 2022 and 2023, according to a report released here on Wednesday. According to the report, among the 263 winners, women entrepreneurs lead 47 start-ups, and 119 start-ups are from tier II and III cities in the State, …

Budget 2024: ₹1,000 crore venture capital fund for space economy
5 months ago

Budget 2024: ₹1,000 crore venture capital fund for space economy

Hindustan Times  

Finance minister Nirmala Sitharaman unveiled a set of forward-looking initiatives as part of the budget proposals on Tuesday, operationalising a ₹1 lakh crore research fund that experts said will help work in next generation technologies and announce a new fund for innovation in the space sector. “With our continued emphasis on expanding the space economy by 5 times in the …

Budget 2024: Centre allocates ₹1000 cr venture fund to boost space economy ‘five-fold in next decade’
5 months ago

Budget 2024: Centre allocates ₹1000 cr venture fund to boost space economy ‘five-fold in next decade’

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday announced the creation of a ₹1,000 crore venture capital fund in the Budget 2024 aimed at expanding the space economy “fivefold over the next decade”. The new venture capital fund is expected to stimulate private sector involvement in space activities, supporting startups and established firms in advancing innovative space technologies. News agency PTI …

Budget 2024: 18% hike for Department of Space, lion’s share for development of space tech
5 months ago

Budget 2024: 18% hike for Department of Space, lion’s share for development of space tech

The Hindu  

The Department of Space received an 18% hike over its expenses in 2023-2024 in the 2024-2025 Union Budget presented by Finance Minister Nirmala Sitharaman on Tuesday. Mixed reactions Importantly, Ms. Sitharaman also announced a pool of ₹1,000 crore, or around $120 million, as venture capital funding for space start-ups, with the goal of “expanding the space economy by five times …

Indian Tech Startups Raise $4.1 Billion In First Half Of 2024, Secure 4th Place Globally: Study
6 months ago

Indian Tech Startups Raise $4.1 Billion In First Half Of 2024, Secure 4th Place Globally: Study

ABP News  

Indian tech start-ups secured $4.1 billion in funding in the first half of 2024, a 4 per cent increase from $3.96 billion in the second half of 2023. According to Tracxn, a market intelligence platform, India ranks as the fourth-highest funded country globally in the tech startup landscape, with the US, UK, and China leading in overall funding volumes. Seed-stage …

With Agnikul Cosmos Getting Its Mission ‘SOrTeD’, How Space Startups Are Scripting Success Stories
6 months, 3 weeks ago

With Agnikul Cosmos Getting Its Mission ‘SOrTeD’, How Space Startups Are Scripting Success Stories

News 18  

The Indian space industry that was restricted to public sector is now witnessing a sea of change, with many private players and startups at the forefront of some successful missions. IN-SPACe, India’s private space regulator, chairman Pawan Goenka, who witnessed the launch, said, “The successful launch of SOrTeD marks a significant moment for private players who are contributing to India’s …

Chennai space startup Agnikul successfully launches country’s 2nd privately built rocket
6 months, 3 weeks ago

Chennai space startup Agnikul successfully launches country’s 2nd privately built rocket

Hindustan Times  

Space start-up Agnikul Cosmos successfully launched the world’s first rocket with a single-piece 3D-printed engine from their own launch pad, ‘Dhanush’, at the Satish Dhawan Space Centre in Sriharikota on Thursday. Chennai-based private space technology startup Agnikul Cosmos successfully test-launched the Agnibaan rocket powered by the world's first single-piece 3D printed semi-cryogenic engine from the Satish Dhawan Space Centre SHAR, …

Fintech startup funding up by 48% in Q1 2024; raising $429 million between January-March 15: Report
8 months, 3 weeks ago

Fintech startup funding up by 48% in Q1 2024; raising $429 million between January-March 15: Report

Live Mint  

Funding winter in India's tech startup ecosystem persisted between January- March 15 this year, with only $1.6 billion injected--a 51% decline, according to Tracxn report. The tech startups received $3.2 billion of funding in the same period last year. Only two tech startups received $100 million of funding in the past three months of the current calendar year-Perfios and Shadowfax. …

India targets massive increase in share of global space economy
9 months, 2 weeks ago

India targets massive increase in share of global space economy

Firstpost  

The government’s emphasis on growing India’s space footprint is indicative of its dedication to promoting innovation and entrepreneurship in the field. The Indian space economy is anticipated to grow significantly in the upcoming years due to the government’s ambitious ambitions and growing private engagement Pointing out the recent increase in private investment in the space industry, the minister credited it …

Start-ups raise $900 million funding in February
9 months, 2 weeks ago

Start-ups raise $900 million funding in February

Deccan Chronicle  

Chennai: In what could be an end to the funding winter, Indian start-ups mopped up nearly $900 million across 121 deals in February, which was higher than January 2024 as well as February 2023. Unlike January, February saw three-digit funding as Shadowfax raised $100 million in a new round. Bengaluru retained the top spot with 45 deals worth around $482.6 …

2024 Interim Budget | Space gets nominal hike, likely boost for spaceflight start-ups
10 months, 3 weeks ago

2024 Interim Budget | Space gets nominal hike, likely boost for spaceflight start-ups

The Hindu  

February 01, 2024 04:58 pm | Updated February 02, 2024 01:53 am IST - CHENNAI With no major space missions slated for 2024, the Department of Space has recieved only a nominal hike of 4% in its allocation in the Interim Union Budget for 2024-25, from ₹12,545 crore to ₹13,043 crore. The major launches slated for 2024 include an uncrewed …

Funding winter: Bengaluru’s start-ups on thin ice
11 months ago

Funding winter: Bengaluru’s start-ups on thin ice

The Hindu  

Vinay was hired by an Indian unicorn soon after he finished his Master’s degree in June 2022. “We recently had a town hall where the CEO announced that the company is struggling and we may not get any raises this year.” Vinay is one among the thousands in India who got laid off in 2023 after a severe funding winter …

Indian space industry's meteoric rise in 2023 sets stage for stellar 2024
11 months, 1 week ago

Indian space industry's meteoric rise in 2023 sets stage for stellar 2024

India Today  

2023 was a marvelous year for the Indian Space Industry with the successful launch of Chandrayaan-3 and the Aditya-L1, India’s first solar mission. Indian space startups have become a strong pillar for the private space industry in the last decade, especially after the landmark decision to open the Indian space sector to private companies by Prime Minister Narendra Modi in …

Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData
1 year ago

Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData

Live Mint  

Indian startups witnessed a 65.8% drop in funding in terms of value between January and November 2023, according to a report by Times of India. Citing data from GlobalData, Indian startups raised $6.9 billion across 1,013 venture capital funding deals in the past 11 months this year. Among the top VC funding deals in Indian startups this year were- $250 …

’Space policy has been a game changer in India’s private space-tech arena’
1 year, 1 month ago

’Space policy has been a game changer in India’s private space-tech arena’

Live Mint  

Space-tech company Skyroot Aerospace has raised $27.5 million in a pre-Series C funding round led by Singapore-based investment firm Temasek, confirming India’s status as a rising private space-tech power. Co-founder and CEO of the company, Pawan Kumar Chandana, widely regarded as a pioneer in India’s private space-tech arena, says the aspiration is to build a strong space-tech enterprise for the …

Skyroot Aerospace unveils its first commercial rocket
1 year, 1 month ago

Skyroot Aerospace unveils its first commercial rocket

The Hindu  

Skyroot Aerospace, the city-based rocket firm, is getting ready to launch its first commercial rocket ‘Vikram 1’, which is seven-storied high and has a payload capacity of up to 300 kgs, early next year. “Vikram 1 will be the multi-stage launch vehicle to the low earth orbit and will be a scaled up version of our first successful rocket launch …

Bengaluru leads Indian EdTech funding amid dip in 2023
1 year, 3 months ago

Bengaluru leads Indian EdTech funding amid dip in 2023

The Hindu  

The Indian EdTech space saw a 48 percent dip in funding from 1 January to 7 August 2023 compared to the corresponding period in the previous year. Nevertheless, the report notes that Indian EdTech sector shows promise due to a demand-supply gap between teachers and course availability in offline education, which might fuel the sector’s growth in the coming years. …

India’s SpaceTech transformation is credited to privatisation
1 year, 3 months ago

India’s SpaceTech transformation is credited to privatisation

The Hindu  

Indian SpaceTech sector has received $62 million funding in 2023 so far, registering 60% increase, compared to the same period last year, according to data research firm Tracxn. The Indian private sector has taken the lead in launching satellites for practical applications, including satellite-based communication services like phone signals, broadband, OTT, and 5G, said Tracxn. Small Payload-based Launch Vehicles have …

Indian FinTech startups raise $1.2 billion in first quarter of 2023: report
1 year, 8 months ago

Indian FinTech startups raise $1.2 billion in first quarter of 2023: report

The Hindu  

FinTech startups in the country attracted investments worth $1.2 billion in during the first quarter of 2023, 55% lower than $2.6 billion raised in the first quarter of 2022. The sector recorded late-stage investments of $977 million in the first three months of 2023, a spike of 325% when compared to Q4 2022 but a drop of 44% from Q1 …

Indian Space Research Organisation lines up science missions for 2023 | FULL DETAILS
1 year, 11 months ago

Indian Space Research Organisation lines up science missions for 2023 | FULL DETAILS

India TV News  

ISRO 2023 missions : Indian Space Research Organisation will turn its focus on science experiments in 2023 with dedicated missions to the Sun - Aditya - and the moon - Chandrayaan-3 - even as the nascent start-up sector is set to soar in the space applications segment. The upcoming year will also witness a series of experiments on India's maiden …

India’s first private rocket launch soon
2 years, 1 month ago

India’s first private rocket launch soon

Live Mint  

Hyderabad-based private space startup, Skyroot Aerospace, is set to launch India’s first private rocket between 12 and 16 November from the Indian Space Research Organisation’s Sriharikota launchpad. Skyroot Aerospace, which has so far raised $68 million, is India’s most funded private space startup, and among the first companies to locally build fully 3D-printed rocket engines — successfully testing the same …

New Era Beckons For Space Sector In India: Deep Space Startups Set To Boost Space Economy
2 years, 1 month ago

New Era Beckons For Space Sector In India: Deep Space Startups Set To Boost Space Economy

ABP News  

India is ushering in a new era in space, due to the efforts of the Indian Space Research Organisation, reforms in the commercial space sector, and the emergence of deep space tech startups. Role of space tech startups and private sector in the Indian space economy Dr Sudheer Kumar, Director, Capacity Building Programme Office, ISRO, said that startups can take …

Indian tech start-ups raised $7.2 billion in Q1 CY2022
2 years, 8 months ago

Indian tech start-ups raised $7.2 billion in Q1 CY2022

The Hindu  

Bengaluru Indian tech start-ups remain attractive and raised $7.2 billion in the January-March quarter of calendar 2022, as per a Tech Startup Investment Factbook analysis prepared by Nasscom in association with PGA Labs. The number of deals closed in Q1 CY22 increased by 34% when compared to Q4 CY21, however, the percentage of funding in large funding rounds reduced from …

When space is more than rocket science
3 years, 9 months ago

When space is more than rocket science

Live Mint  

Space is not easy. More than 50 years later, as India celebrates National Science Day on 28 February, Isro’s PSLV-C51 launch will mark a new beginning for the country’s commercial and private space sectors. Isro’s 53rd PSLV mission, the PSLV-C51 is the first dedicated commercial mission of NewSpace India, set up in 2019 as a commercial subsidiary of the space …

Indian startups attracted $10.14 billion in funding in 2020 despite the COVID-19 pandemic
3 years, 10 months ago

Indian startups attracted $10.14 billion in funding in 2020 despite the COVID-19 pandemic

Firstpost  

Indian startups are estimated to have received $10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID crisis, a report by consulting firm HexGn said. “Weathering negative sentiment, seed stage investment deals grew by 50 percent from $353 million over 420 deals in 2019 to $372 million over 672 deals in 2020. The report said Bengaluru, …

Indian Startups Received $10.14 Billion in Funding in 2020; E-Commerce, Edtech Biggest Gainers: Report
3 years, 10 months ago

Indian Startups Received $10.14 Billion in Funding in 2020; E-Commerce, Edtech Biggest Gainers: Report

News 18  

Indian startups are estimated to have received USD 10.14 billion in funding across more than 1,200 deals in 2020 despite the Covid-19 crisis, a report by consulting firm HexGn said. Even though the total investment received in 2020 is lower than that of 2019, the number of deals were higher by 20 per cent, the report said. “Weathering negative sentiment, …

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