In the wake of India’s space sector (Agnikul) reaching new heights with the remarkable success of Chandrayaan-3 and a slew of upcoming missions, a burgeoning ecosystem of space technology startups is emerging. Notably, India is home to an astounding 190 registered space-tech startups, according to a collaborative report by Deloitte, the Indian Space Association, and NASSCOM. One standout among these pioneers is Agnikul Cosmos, an aerospace manufacturing startup.
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Exploring Agnikul Cosmos
Agnikul, deriving its name from the Sanskrit word “Gurukul,” signifying a place of learning through fire, boasts a youthful team of 250 individuals, guided by 37 former ISRO scientists. The company’s primary focus lies in the design and manufacture of rockets tailored for satellites weighing less than 100 kilograms. Agnikul’s premier launch vehicle, the Agnibaan SubOrbital Technological Demonstrator (SOrTeD), features five distinct configurations, catering to diverse client requirements. A remarkable achievement by Agnikul is the integration of 3D-printed components, particularly the Agnilet, a revolutionary 3D-printed rocket engine – the world’s first of its kind, as reported by Forbes.
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Funding the Future
Agnikul Cosmos has garnered support from prominent investors, including Forbes Midas Lister Navin Chaddha’s Mayfield Fund, which successfully raised $26.7 million in a Series B funding round. This influx of capital reflects the growing optimism within India’s space industry.
A Journey Through Time
Founded in 2017 and headquartered in Chennai, India, Agnikul Cosmos has marked significant milestones in its journey:
- 2016: Inception – The birth of the idea.
- 2017: Formation – Formal incorporation as a company and the establishment of its base at the National Center for Combustion R&D at IIT Madras.
- 2018: Incubation & Acceleration – Agnikul’s entry into Airbus Accelerator and the commencement of hot firings.
- 2019: Expansion to Kerala, agreements with potential customers, and successful seed funding round.
- 2020: Further commercialization, pre-Series A funding, and a partnership with the Indian Space Research Organisation (ISRO).
- 2021: Second set of hot firings, Series A funding round, and significant developments, including the inauguration of IN-SPACe.
- 2022: Expanding infrastructure and successful test firings, including India’s first private launchpad.
- 2023: Preparing for the first commercial launches and an exciting maiden launch set for the year’s end.
The Vision of Agnikul’s CEO
The fresh capital acquired by Agnikul Cosmos is destined to propel the company into its first set of commercial launches, expanding crucial launch infrastructure, and recruiting talent across production, operations, and technology. With its private launchpad situated in the Satish Dhawan Space Centre, Agnikul anticipates its inaugural launch at the end of 2023. Srinath Ravichandran, Agnikul’s co-founder and CEO, attributes India’s recent lunar mission’s success to elevating the sentiment within the space tech sector. He envisions India’s space industry making substantial contributions to global space exploration, satellite services, and environmental sustainability, fueled by a thriving ecosystem of public and private enterprises and a steadfast commitment to innovation.
In conclusion, Agnikul Cosmos stands as a testament to India’s growing prowess in the field of space technology, bringing innovation and ambition to the forefront of global space endeavors.
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