IN-SPACe to invest 67.15cr in 4 Indian space startups
India's space scene just got a boost: IN-SPACe is investing ₹67.15 crore in four local startups to help build homegrown satellite engines and navigation chips.
The move is all about strengthening our own tech and getting more players involved in the country's growing space industry.
IN-SPACe funds engines clocks chips
Manastu Space has been offered ₹22.08 crore for a new iodine-fueled engine that makes small satellites cheaper and easier to manage.
Inspecity Space Laboratories has been offered ₹21.18 crore to work on an engine that could let satellites refuel while in orbit someday.
VyomIC has been offered ₹12.55 crore to develop super-precise clocks for deep-space navigation, while MumbaiSemi has been offered ₹11.34 crore to design a chip that works with both GPS and India's NavIC system.
IN-SPACe chair Goenka cites self-reliance, exports
IN-SPACe Chairman Dr. Pawan Goenka says these investments are key for reducing India's reliance on foreign tech, helping us export more space systems, and putting Indian innovation on the global map.