Conquer outer space

The Indian government is actively supporting private space companies with plans to invest over $100 million in the sector.

Shakuntala, the first Pathfinder satellite from startup Pixxel, was launched in April 2022 and returned to Earth after completing its maiden flight in space in 2024. (Image from Pixxel)

Last February, India's National Space Acquisition and Promotion Centre (IN-SPACe) established a $57 million fund to support early-stage space technology, covering up to 60% of project costs for startups and 40% for larger organizations.

In October 2024, the Indian government approved a $119 million venture capital fund to support space startups over the next five years. This is part of a strategy to privatize the space industry, which was previously monopolized by the Indian Space Research Organisation (ISRO).

Indian startups are gradually proving their potential. Pixxel, a Bengaluru-based startup, launched three hyperspectral imaging satellites using SpaceX rockets and raised $95 million from Google and Fireflies. The company plans to launch additional Honeybees satellites and an imaging satellite for the Indian Air Force. Meanwhile, Digantara, a developer of the Space Debris Monitoring System (SCOT), launched its first commercial surveillance satellite.

According to the Tracxn data platform, Indian space startups have raised over $350 million in the past five years. Notably, since February 2024, the government has allowed 100% foreign investment in the satellite sector without formal approval, while also easing restrictions on launch vehicles.

Currently, numerous startups are emerging in India's space industry, ranging from satellite manufacturing (Pixxel, Digantara) and satellite propulsion systems (Bellatrix Aerospace) to rocket development (Agnikul Cosmos). According to the government's investment promotion agency, this sector is projected to reach a value of over $13 billion by 2025, becoming one of India's key economic pillars.