Manastu Space secures 22 crore rupees in extended funding round
Indian space-tech firm Manastu Space has raised 22 crore rupees to support the development of its green satellite propulsion and debris-avoidance technologies.
Manastu Space, an Indian space-technology startup, has raised 22 crore rupees ($2.3 million) through an extension of its Series A funding round. The investment was led by Gandhi Securities and Investments and the Thacker Legacy Trusts, alongside various angel investors.
The capital is designated for research, development, and operational expansion. The company specializes in green propulsion systems utilizing hydrogen peroxide, which serve as an alternative to conventional toxic propellants. These systems are designed to improve satellite performance while facilitating collision avoidance and end-of-life de-orbiting.
This funding arrives shortly after the company secured a significant commitment of 116 crore rupees from India’s Technology Development Board. Manastu operates in a competitive segment against firms like Bellatrix Aerospace and Dhruva Space, targeting a global satellite propulsion market projected to grow at a 17.6% CAGR, reaching $4.7 billion by 2031.