India Can Build A Commercially Viable Space Sector For The World: PM Modi

The Startups made insightful presentations on their work… I assured the space startups that the Government of India will continue to stand with them as they build India’s capabilities for the future. During the meeting, startup leaders presented their work and highlighted their capabilities.

PM Modi called on startups to collaborate with sectors beyond core aerospace operations, suggesting that orbital debris management firms could partner with environmental organisations or satellite analytics providers could work with agricultural universities and departments to increase crop yields. For context, Atal Tinkering Labs.

What Happened

Under this, students, studying in grades 6 through 12, are trained with hands-on access to modern tools like 3D printers, robotics kits, and microcontrollers to foster STEM skills. He also doubled down on its intent to establish India as a hub to.

• Since the introduction of the Indian Space Policy 2023, which accelerated the participation of private players in space missions, investors have been lining up for a piece of the pie.

• The industry as a whole is now projected to reach $77 Bn by 2030.

• The startup also reached a $1.1 Bn valuation in a $60 Mn funding round co-led by Sherpalo Ventures and Singapore’s GIC in May.

Key Details

Attraction to spacetech received a certain degree of validation when Skyroot Aerospace, which also became India’s first spacetech unicorn, successfully completed India’s first private orbital rocket launch using its Vikram-1 vehicle in July. In June, IN-SPACe also funded Astrobase Space Technologies, SatSure.

• Notably, the government’s ₹1,600 Cr Antariksh Venture Capital Fund (AVCF) deployed capital for the first time recently by investing ₹60 Cr ($6.3 Mn) as part of Dhruva Space’s ongoing pre-Series B funding round.

• AVCF is managed by the venture arm of SIDBI and anchored by ₹1,000 Cr in committed funds from India’s space sector regulator and promoter In-SPACe.

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