Agnikul Cosmos, a Chennai-based spacetech startup constructing the world’s first single-piece 3D-printed rocket engines and finish to finish area transportation options, in the present day introduced that it has raised Rs 150 crore ($17 million) in a contemporary funding spherical at a $500 million valuation. 

The spherical noticed participation from household places of work and marquee institutional buyers equivalent to Advenza International Restricted, Atharva Inexperienced Ecotech LLP, HDFC Financial institution, Artha Choose Fund, Prathithi Ventures, and 100X.VC.

The startup will deploy this capital in scaling manufacturing models of aerospace and rocket elements and advance its stage-recovery program. It’s going to additionally deal with the event of its upcoming built-in area campus on the 350 acres allotted by the Tamil Nadu Authorities which will probably be used for constructing end-to-end services for manufacturing & testing of launch automobile methods.

“Given our earlier profitable managed ascent launch that allowed us to display all our patented applied sciences with ISRO and IN-SPACe assist, we’ve got now been capable of scale our technique to incorporate decrease stage restoration and higher stage extension – options that may make the unit economics of launch companies significantly better. This fund elevate permits us to work on such missions whereas additionally specializing in scaling launch frequency and constructing for the world, from India “ mentioned Srinath Ravichandran, CEO and Co-founder, AgniKul Cosmos.

Agnikul may also use the contemporary funds to strengthen their reusable launch structure – constructing on its lately granted patent that extends the operational lifetime of higher levels. The startup mentioned that the innovation opens new pathways for reusability and cost-efficient orbital entry, marking a pivotal step in the direction of changing into world’s first recoverable small-satellite launch automobile.

Moin SPM, Co-founder & COO of Agnikul highlighted, “With rising demand and greater than a dozen clients wanting to launch with us, scaling our operational depth was the pure subsequent step. The indigenous facility which is deliberate close to the brand new upcoming launchpad of India will equip us to serve these missions on schedule and with the responsiveness the market expects.”

“We stay very excited in regards to the prospects of Agnikul, and to proceed supporting them as early buyers and board members. They’re on the proper place on the proper time, poised to satisfy the large unmet demand for low earth orbit satellites each globally and domestically, and pursuing this market with a singularly modern method. Agnikul is a standout instance of the leading edge deep tech innovation we see in India in the present day,” Arun Kumar, Managing Companion, Celesta Capital.

“Agnikul’s trajectory is a transparent sign that India’s personal area trade has arrived and the world is now watching intently. What excites us is their dedication to inventing know-how that doesn’t exist elsewhere. That ethos, coupled with disciplined execution, offers them a really world edge. With this spherical, to which we’ve contributed our largest cheque but by way of Artha Choose Fund, we’re reaffirming our perception on Agnikul taking part in a defining function in the way forward for orbital entry,” mentioned Anirudh A. Damani, Managing Companion, Artha Choose Fund.

Agnikul additionally lately introduced its new Giant Format Metallic Additive Manufacturing Unit which can enable it to make use of 3d printing for a number of sub methods past simply its engines.