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Government gives nod to $119 mn spacetech fund
VCCircle
·
9m ago
Medial
The Indian government has approved a $119 million fund for the country's space sector, with 40 startups set to benefit. The funding, ranging from $1.3 million to $7.9 million depending on the startup's maturity, aims to generate employment, boost space technology development, strengthen supply chains, and support research and development. India, currently holding only a 2% market share of the commercial space sector, is striving to increase its share to $44 billion by 2033. The country currently has nearly 250 space startups, many of which focus on providing cost-effective services and hardware for various sectors.
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Speciale Invest’s Vishesh Rajaram On How Centre’s INR 1K Cr Fund Will Boost The Spacetech Economy
Inc42
·
1y ago
Medial
The Indian government has announced the creation of a INR 1,000 Cr ($135 million) venture capital fund to support the country's spacetech sector. The fund aims to attract more capital and boost the growth of the nascent industry. In her Budget 2024-25 speech, finance minister Nirmala Sitharaman expressed the government's commitment to developing the space economy and expects it to expand five-fold within the next decade. The focus of the fund will be on supporting Indian entrepreneurs in the spacetech sector who are building solutions for the global market.
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India approves $119 million fund for space startups
Economic Times
·
9m ago
Medial
The Indian government has approved a 10 billion rupee ($119 million) fund to support the country's growing space sector. The fund aims to benefit 40 startups and help India secure a significant share of the commercial space market by 2033. Funding amounts will range from 100 million to 600 million rupees, depending on the maturity of each startup. The government expects the fund to generate employment, boost space technology development, fortify supply chains, and support research and development. The fund will be managed by the Indian National Space Promotion and Authorisation Centre, and it is part of the government's efforts to increase India's market share in the space industry.
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NIIF-managed India-Japan Fund invests $48 mn in Mahindra's last mile mobility business
VCCircle
·
1y ago
Medial
The National Infrastructure and Investment Fund-managed India-Japan Fund has invested $48 million in Mahindra & Mahindra Ltd's last-mile mobility business. This investment gives the fund a minority stake of 6.06% to 8.25% in Mahindra Last Mile Mobility Ltd and values the company at up to ₹6,600 crore ($900 million). The fund aims to drive economic growth, employment, and environmental sustainability in the last-mile mobility sector. The India-Japan Fund joins the International Finance Corporation as an investor in Mahindra's last-mile mobility firm.
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Can India’s New Space Missions Launch The Country’s Spacetech Startups Into A New Orbit?
Inc42
·
10m ago
Medial
- India's growing presence in space exploration attracts international partnerships and funds to the spacetech ecosystem. - The Venus Orbiter Mission and other space programs enhance the confidence of international investors and customers. - The collaboration between the government and private sector is paving the way for a thriving Indian spacetech ecosystem. - By 2030, the Indian spacetech market is projected to exceed $77 billion. - Increased investments and collaborations are driving innovation and growth in the Indian spacetech industry. - India's space exploration initiatives are transforming it into a global hub for spacetech innovation.
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Centre In The Final Leg Of Building A Dedicated Policy For Deeptech Startups: DPIIT Secy
Inc42
·
1y ago
Medial
The Indian government is finalizing a dedicated policy to support deeptech startups, with plans to create a fund of funds to support their growth. The policy aims to promote sectors such as AI, semiconductor manufacturing, spacetech, and other related segments. The government's focus on deeptech is part of its broader efforts to boost research and development in sunrise sectors. In addition, the government aims to increase procurement from the startup ecosystem, with the Government e-Marketplace (GeM) having already procured products worth INR 22,000 crore (approximately $3 billion) from startups.
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Time For Liftoff? How The VC View On India’s Spacetech Startups Is Changing
Inc42
·
9m ago
Medial
Indian spacetech startups are gaining traction with lower costs and faster execution compared to their international counterparts. The liberalized investment policy and the government's INR 1,000 Cr fund have attracted venture capital firms, corporate venture funds, and angel investors to the sector. However, there is a lack of major deals in the spacetech sector, indicating hesitancy from Indian VCs. The question remains whether Indian spacetech startups can overcome this growth ceiling.
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EtherealX Pockets $5 Mn From YourNest, Others To Build Reusable Rockets
Inc42
·
1y ago
Medial
Bengaluru-based spacetech startup EtherealX has secured a seed funding round worth $5 million. The investment will be utilized to develop engines for the company's fully reusable medium-lift launch vehicles. Leading the round is YourNest, with participation from several other investors including BIG Global Investments JSC, BlueHill Capital, Campus Fund, Golden Sparrow Ventures, and more. EtherealX aims to use the funding to further its development of the Razor Crest Mk-1.C launch vehicle.
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Dhruva Gets In-SPACe Nod To Offer Ground Station Services
Inc42
·
1y ago
Medial
Dhruva Space, a spacetech startup, has received approval from the Indian National Space Promotion and Authorization Centre (IN-SPACe), enabling the company to reduce costs, provide ground station facilities, and speed up research and development. This approval follows the closure of their Series A funding round at INR 123 Cr two months ago. Dhruva Space, founded in 2012, offers various services including launch services and ownership of space-based assets.
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India Now Home To 189 Spacetech Startups: Union Minister Jitendra Singh
Inc42
·
1y ago
Medial
According to Union Minister Jitendra Singh, the number of Indian spacetech startups has increased from 1 in 2014 to 189 in 2023. The investment in these startups has also risen to $124.7 million. The government has set up a space technology incubation centre (S-TIC) to support young students with innovative ideas and encourage research and startup formation in the space sector. The Indian Space Policy 2023 aims to facilitate participation of private spacetech companies in all aspects of space-related activities. Several spacetech startups have received funding from investors like Pi Ventures, Speciale Invest, and Peak XV.
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Inflexor Ventures eyes first close of $150 Mn Fund III by Q2 FY26: Report
Entrackr
·
2m ago
Medial
Inflexor Ventures eyes first close of $150 Mn Fund III by Q2 FY26: Report Early-stage venture capital firm Inflexor Ventures is targeting the first close of its $150 million (Rs 1,250 crore) Fund III by the end of Q2 FY26. As per the ET report, the new fund will focus on emerging sectors such as healthcare devices, EV battery tech, and foundational large language models (LLMs), reflecting a pivot toward less crowded, high-tech verticals. Fund III will invest in 25–27 startups, largely at the pre-Series A to Series A stage, with average cheque sizes of $2.5–3 million for a ~15% stake. The firm’s current portfolio includes Atomberg, Bellatrix Aerospace, CredFlow, and Bioprime Agrisolutions. With this fund, Inflexor expects its total portfolio to cross 50 startups. Inflexor also announced the closure of its Rs 350 crore Opportunities Fund through the acquisition of its first fund’s portfolio (Parampara Capital), led by HDFC Asset Management Co., providing early liquidity to initial investors. Founded by Venkat Vallabhaneni, Jatin Desai, and Pratip Mazumdar, Inflexor Ventures has over $120 million AUM and has backed over 25 startups across deeptech, spacetech, cybersecurity, AI, and consumer tech.
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