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India approves $119 million fund for space startups

Economic Times

Economic Times · 8m ago

India approves $119 million fund for space startups

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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Government gives nod to $119 mn spacetech fund

VCCircle

VCCircle · 8m ago

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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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Money Control · 8m ago

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VCCircle · 4m ago

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Economic Times

Economic Times · 3m ago

IN-SPACe appoints Sidbi Venture Capital to manage Rs 1,000 crore spacetech fund

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has appointed Sidbi Venture Capital Limited to manage a Rs 1,000 crore venture capital fund supporting space tech startups in India. Aimed at providing crucial capital, the fund targets 40 startups across the space supply chain over five years. It offers Rs 10-60 crore to startups at different growth stages, with hopes to generate employment, spur R&D, and significantly grow India's space economy within a decade.

IAN marks first close of its second fund at INR 355 Cr to invest in early stage startups

Inc42 · 1y ago

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Indian Angel Network (IAN) has announced the first close of its second venture capital fund at INR 355 Cr ($42.5 Mn). The IAN Alpha Fund aims to reach a corpus of INR 1,000 Cr ($119 Mn) and will invest in early-stage startups across various sectors. With an existing investment of INR 900 Cr ($108 Mn) in 250 startups, IAN aims to invest in over 500 startups and create 5,000,000 jobs by 2030. The fund will have a focus on both Tier-II and III cities and female founders.

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Inc42 · 12m ago

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Livemint

Livemint · 1y ago

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Economic Times

Economic Times · 4m ago

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Economic Times

Economic Times · 4m ago

In-SPACe launches $58 million fund to boost startups, cut reliance on imports

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