Spacetech startup AgniKul Cosmos has bagged Rs 200 crore (USS 26.7 million) in Series B funding round. The round witnessed participation from investors such as Celesta Capital, rocketship.vc, Artha Venture Fund, Artha Select Fund and Mayfield India, along with existing investors such as Pi Venturesand Speciale Invest. After the fresh fundraise, company’s raised total capital of USD 40 million.
Srinath Ravichandran and Moin SPM co-founded the startup in 2017. Incubated at the Indian Institute of Technology, Madras, the startup plans to utilise the funds to scale its existing technology towards commercialisation, as well as invest in key facilities such as mobile launchpads and other test rigs necessary for addressing launch-on-demand customer needs.
In August this year, Agnikul commenced the integration process of its cutting-edge launch vehicle, Agnibaan SOrTeD (SubOrbital Technological Demonstrator), with its private launchpad located at Satish Dhawan Space Centre (SDSC) SHAR at Sriharikota.
In early 2021, Agnikul had launched ‘Agnilet’, the world’s first single-piece 3D printed engine fully conceived and manufactured in India. It also secured a patent for its engine from the Government of India in 2022.
The company also inaugurated its factory dedicated to end-to-end 3D printing of rocket engines last year, with a focus on launch vehicle engine fabrication at scale. Additionally, the startup achieved the distinction of being the first company globally to design a rocket engine that can be 3D printed as a single, seamless piece of hardware.
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