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Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn

EntrackrEntrackr · 1m ago
Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn
Medial

Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn The Bengaluru-based space tech company has raised over Rs 60 crore ($7 million) in its maiden funding round, led by venture firm BanyanCo, as per information sourced from the regulatory filings with MCA. CoinDCX co-founder Neeraj Khandelwal has partnered with senior ISRO scientists Devakumar Thammisetty, Pawan Kumar, and Prashant M to launch Astrobase, according to sources familiar with the matter. Astrobase aims to address the growing demand for satellite launches by building cost-efficient, high-payload launch vehicles. “The company is working on a methane oxygen full flow staged combustion engine designed to carry payloads ranging from 3 to 10 tonnes. It plans to offer three configurations of its launch vehicle: fully expendable, partially reusable and fully reusable, with a target launch cost of $300 per kilogram by 2034,” a person familiar with the matter said. As per sources, the company has secured an engine manufacturing facility in Bengaluru’s aerospace hub and is ready to begin production. “Astrobase is moving from research and development to manufacturing. It has completed engine and vehicle designs for an orbital-class launch system.” Entrackr estimates the startup’s valuation at approximately Rs 623 crore ($72 million) in this round. The company is preparing to raise additional capital, and its valuation will change accordingly. Following Entrackr’s story, Khandelwal clarified that the company has closed a $10 million seed round. He mentioned that the engine manufacturing facility is up and running, with 10 senior ISRO scientists on board. Over the past two years, spacetech startups are gaining momentum over the past few years. In 2024, 13 startups from the segment raised around $85 million in funding. In the ongoing calendar year, 10 such startups have announced their fundraise worth over $15 million. In 2025, the Indian government introduced a Rs 500 crore ($58 million) fund through IN-SPACe and approved a Rs 1,000 crore ($116 million) VC fund to support space-tech startups. The funds are intended to increase local development, reduce import reliance, and expand private sector participation in the space sector.

VCs fire up wealthtech investments as stock market surge ignites HNI boom

Economic TimesEconomic Times · 11m ago
VCs fire up wealthtech investments as stock market surge ignites HNI boom
Medial

Indian wealthtech startups are receiving substantial investments as the country's stock markets expand and wealth generation increases. Market intelligence platform Tracxn reports that investors have poured around $228 million into Indian wealthtech startups in the past two years, with $70 million invested so far in 2024. The sector is attractive due to the growing number of high net-worth individuals (HNIs) in India. Wealthtech firms utilize data analytics and technology to offer personalized investment strategies at a lower cost compared to traditional wealth management services. Two types of wealthtech startups are emerging: those focused on premium wealth management and those building fixed income products and platforms for alternative asset classes.

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