🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Dhruva Space raises $15 Mn in Series A round

EntrackrEntrackr · 1y ago
Dhruva Space raises $15 Mn in Series A round
Medial

Space tech startup Dhruva Space has raised $15 million (Rs 123 crore approximately) in its Series A round from Indian Angel Network Alpha Fund and Blue Ashva Capital, as well as Silverneedle Ventures, BIG Global Investment JSC (BITEXCO Group) IvyCap Ventures, Mumbai Angels, and Blume Founders Fund. The fundraise also includes a Rs 10 crore venture debt from Small Industries Development Bank of India (SIDBI) and a Rs 14 crore venture debt from Technology Development Board. The proceeds will be used for upcoming spacecraft manufacturing facilities, strategic business acquisitions, and enhancing product offerings, the company said in a press release. Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space has launched as many as eight payloads in the last 24 months, including the Thybolt satellites mission in November 2022 and the LEAP-TD mission on 01 January 2024. The Hyderabad-based startup is active across space, launch, and ground segments, and supports civilian and defence clients worldwide. It offers satellites teamed with Earth Station/s and Launch Services as an integrated solution or individually as technology solutions to power space-based applications on Earth and beyond. Over the past few years, several space tech startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara and InspeCity have managed to raise decent funding. In June last year, spacetech startup Digantara raised $10 million in Series A1 funding led by Peak XV Partners (formerly Sequoia Capital India) and Kalaari Capital. In the same month, Pixxel scooped up $36 million in a series B funding round from new investors such as Google.

Pixxel becomes first Indian space startup to secure NASA contract

EntrackrEntrackr · 10m ago
Pixxel becomes first Indian space startup to secure NASA contract
Medial

Homegrown spacetech startup Pixxel has won the largest supplier deal by an Indian company from the National Aeronautics and Space Administration (NASA). It has become part of NASA’s $476-million commercial smallsat data acquisition program. This is the first deal by an Indian startup. Pixxel will provide NASA, the US government and academic partners with hyperspectral earth observation data. This will further empower the administration’s earth science research and application activities. Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel is developing hyperspectral imagery satellites, which take a spectrum of light and divides it into hundreds of narrow spectral bands so one can better understand and discern anything on the planet. In February this year, Pixxel unveiled the first set of hyperspectral images from its satellites, capturing intricate details of the land and water features of regions such as Krishna River Delta (India), Palm Islands (Dubai), Super pit (Australia), Saloum River Delta (Senegal), Granny Smith Gold Mine (Australia) and Brockman (Australia). In April 2022, Elon Musk’s SpaceX rocket carried a low-orbit imaging satellite developed by Pixxel. The Bengaluru-based startup has so far worked with several prominent space agencies, including ISRO and NASA. Pixxel raised $36 million in a series B funding round in June last year from Google and others.

Bellatrix Aerospace to secure fresh funds at flat valuation

EntrackrEntrackr · 2m ago
Bellatrix Aerospace to secure fresh funds at flat valuation
Medial

Spacetech startup Bellatrix Aerospace is set to raise Rs 26 crore (approximately $3 million) in a pre-Series B round from existing investors including Inflexor Ventures, StartupXseed Ventures, Pavestone VC, Survan Partners, and others. Previously, the company raised $8 million in its Series A round led by BASF Venture Capital in June 2022. According to regulatory filings accessed from the Registrar of Companies (RoC), the board at Bellatrix approved a resolution to issue 4,873 pre-Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 53,450 each to raise the aforementioned amount. The company has already received Rs 10.8 crore and is expected to receive the remaining funds soon. As per Entrackr’s estimates, the company’s valuation stood at Rs 314 crore or $37 million, reflecting flat valuation compared to the previous round. Founded in 2015, Bellatrix Aerospace develops advanced propulsion systems for missions ranging from deploying nanosat constellations to ferrying heavy communication satellites to geostationary orbit. It created the world’s first commercial Microwave Plasma Thruster using water as fuel and secured an order from ISRO. Recently, Bellatrix Aerospace announced the expansion of operations to the US and plans to set up manufacturing facilities in Delaware. According to startup data intelligence platform TheKredible, the Bengaluru-based startup has raised approximately $12.5 million to date from StartupXseed Ventures, Pavestone VC, Inflexor Ventures, and others. For the financial year ended 2024, the spacetech startup reported Rs 2 crore in operating revenue, while incurring Rs 12.35 crore loss during the same period. Bellatrix Aerospace competes with other prominent spacetech startups such as Agnikul, Skyroot Aerospace, Pixxel, Dhruva Space, Digantara, and others. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Download the medial app to read full posts, comements and news.