Agnikul Cosmos secures ₹150cr for building small satellite launch vehicles
What's the story
Aerospace start-up Agnikul Cosmos has raised ₹150 crore after the company's previous attempt to raise up to $50 million didn't attract enough investor interest. The latest funding round saw new investors Advenza Global Ltd and Atharva Green Ecotech Pvt Ltd invest ₹30 crore each. The company also raised ₹7 crore in debt financing from Pratithi Investments. With this fresh capital, Agnikul's total fundraising since its establishment in 2017 has now reached nearly $58 million.
Investment gap
Celesta Capital's absence in Agnikul's current funding round
Notably, Celesta Capital, the lead investor from Agnikul's previous Series B round in 2023, is not participating in this Series C round. The company had raised $26.7 million then from Celesta Capital and others including Rocketship.vc, Artha Venture Fund and Mayfield India. Despite the absence of some investors, there has been a lot of interest from family offices and corporate venture capital funds willing to invest larger amounts.
Business model
Agnikul's focus on small satellite launch vehicles
Chennai-based Agnikul specializes in developing and launching small satellite launch vehicles. The company has been at the forefront of India's deep tech space, attracting investments across sectors such as aerospace and space tech. Earlier this month, SIDBI Venture Capital Ltd raised ₹1,005 crore for its 12th fund—the Antariksh Venture Capital Fund—focused on investing in space tech start-ups.