Spacetech startups in India are ready to take off, spurred by government policy, local tech expertise and increasing investor interest. A slew of startups such as Pixxel, Bellatrix Aerospace, Agnikul, Vesta Space among others, led by young founders, have raised funds amid the pandemic, as they identify unique opportunities in space that can solve problems across industries.
While the Indian Space Research Organization (ISRO) has been at the forefront for driving the space sector so far, the finance minister announced opening up the sector to private players in May. The reforms include level playing field for private companies in satellites, launches and space-based services by introducing a predictable policy and regulatory environment to private players and providing access to geospatial data and facilities of ISRO.
“The government is making a lot of good noise, we are very excited with the intent.. that’s a great start. The space tech startups in India are extremely good and can launch a rocket at 1/3 rd the cost as compared to US in the same segment,” says Arpit Agarwal, principal at Blume Ventures.