Indian Space Tech Start-Ups Get a Boost After the Recent Success of ISRO
Between 2014 and 2023, more than 150 spacetech start-ups received $255 million plus in funding, according to a recent report.
India has entered into an era of rapid scientific progress and development. With India’s latest space missions, the world has entered into the space race 2.0. The modest journey that began in 1963, has now become India is breaking boundaries and setting new frontiers in spacetech. From successfully entering the Martian orbit in its first attempt to launching its Lander on the South Pole of the Moon to sending Aditya L1 on the solar mission, India has truly launched itself as a space tech giant.
India’s latest space achievements have given a boost to the space-start sector. While it is true that the Indian Space tech sector was achieving significant funding before ISRO’s successful mission, the sector received a boost after India’s recent space odyssey.
An article published on Inc42 mentions the following:
“‘The government and ISRO have been formulating policies to support startups in the space technology sector. On the one hand, ISRO is assisting private companies in expanding their launch capabilities, while on the other hand, in the sensing sector, a growing number of startups are developing advanced analytics. This is intensifying stakeholders’ interest in the ecosystem,’ said Manish Singhal, founding partner, pi Ventures.”
Since India’s independence in 1947, its leaders have focused on scientific and technological developments. While a certain group of socio-economic experts expressed dissatisfaction over India’s interest in science and technology, others were hopeful of a bright future. The farsightedness of the leaders and the scientific community of the time propelled India to become one of the most technologically progressive countries in the world today.
Inspired by India’s progress, various stakeholders are investing in spacetech start-ups. Among spacetech start-ups that have quickly made a name for themselves are Skyroot and Pixxel. While Skyroot launched its first rocket into space in 2022, Pixxel went on to deploy India’s first private satellite. Sapacetech start-ups are seizing every opportunity they get into the thick of things. From pioneering ways to reuse parts of launches, to finding cost-effective ways to send satellites, the Indian spacetech start-up sector is achieving unimaginable progress.
The Inc24 article mentions:
“‘Even though the space tech startups in the country are fairly nascent, we are extremely bullish about the opportunities in the coming few years. In the next 10 years, we will see ourselves exceeding a few other ecosystems,’ said Awais Ahmed, CEO of Pixxel.”
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