Bellatrix Aerospace to secure fresh funds at flat valuation

Entrackr · 9h

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.