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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.

JJG Aero raises $12 Mn from CX Partners

EntrackrEntrackr · 1y ago
JJG Aero raises $12 Mn from CX Partners
Medial

Bengaluru-based aerospace components manufacturer JJG Aero has raised $12 million (approximately Rs 100 crore) from CX Partners. The fresh proceeds will be primarily used for increasing its manufacturing capacity at its new facility, vertical integration, and other corporate initiatives. Founded in 2008, JJG Aero offers a wide range of manufacturing services, complemented by over 30 NADCAP-approved special processes, including electroplating, anodizing, paint, and NDT. While the company is primarily focused on building its business in the commercial aerospace segment, its diverse capabilities are put to use with its customers in automotive and industrial segments. The company claims to work with American and European OEMs including tier-1 vendors and achieve 35% CAGR over the last three years. Before this latest investment, JJG Aero was completely owned by J.J Glastronics Private Limited with 99.97% holding. According to startup data intelligence platform TheKredible, JJG Aero registered a 2.2X year-on-year growth to Rs 87 crore during the fiscal year ended March 2023. Significantly, the profits of the Bengaluru-based firm surged 3.2X to Rs 7.5 crore in the same period. The firm is yet to file FY24 financial results. The investment in India’s spacetech funding tripled between 2021 and 2023. As per data compiled by TheKredible, the total funding in the sector surged nearly 3X to nearly $100 million in 2023 from $32.44 million in 2021. Some of the top fundraisers include Pixxel, Skyroot Aerospace, and AgniKul Cosmos among others. In the ongoing calendar year, its direct competitor Jeh Aerospace raised $2.75 million in a seed funding round led by General Catalyst.

Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round

EntrackrEntrackr · 16d ago
Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round
Medial

Snippets Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round Deep-tech space startup Astrophel Aerospace has raised Rs 6.84 crore (around $800K) in a pre-seed funding round from a group of angel investors and venture firms. The Pune-based startup will use the funds to build a prototype of its reusable semi-cryogenic launch vehicle and to expand in-house R&D efforts focused on building advanced missile-grade guidance and propulsion systems. Founded in 2022 by Suyash Bafna, Astrophel Aerospace is building cost-effective, reusable launch vehicles specifically tailored for small satellites. It operates on a vertically integrated model designing, engineering, and testing propulsion systems in-house. The firm’s Astra C1 series rockets are powered by in-house developed semi-cryogenic engines and built using a combination of 3D printing and modular assembly. Astrophel claims to be among a limited number of Indian private companies to have successfully test-fired a semi-cryogenic engine, and achieved this with just Rs 6 lakh in internal resources and no external funding before this round. It is now aiming for a working, reusable prototype within the next 2–3 years. The startup is building its flagship Potentia C1U engine using modular design and manufacturing principles adapted from the automotive sector. Astrophel has also signed an MoU with ISRO to support co-development and testing. In India, its key competitors include Skyroot Aerospace, Agnikul Cosmos, Bellatrix Aerospace and Pixxel among others.

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.

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