Newsletter
Neeraj Khandelwal, co-founder of crypto platform CoinDCX, has now entered the spacetech arena with Astrobase.
The deets: Neeraj has partnered with three senior ISRO scientists, Devakumar Thammisetty, Pawan Kumar, and Prashant M to start the new venture.
The funding scoop: the company raised ₹60 crore in its maiden funding round, led by BanyanCo.
The company has also secured an engine manufacturing facility in Bengaluru’s aerospace hub and is ready to begin production.
The why: Astrobase aims to address the growing demand for satellite launches by building cost-efficient, high-payload launch vehicles.
Why it matters: the company’s goal is to take the launch costs down to $300 per kilogram by the end of 2034. This will make satellite launches significantly cheaper for companies, government or research organisations.
Zoom out: spacetech startups are gaining momentum over the past few years. In 2024, 13 startups had raised $35 million in funding & in this calendar year, 10 such startups have announced fundraises worth over $15 million.
