Space Tech company Agnikul Cosmos raises $17 Mn

IIT Madras incubated Space Tech startup Agnikul Cosmos has raised $17 Mn (Rs 150 Crores) of funding to scale its launch frequency while also focusing on developing indigenous technology for reusable rockets with ISRO – Indian Space Research Organisation and IN-SPACe support. The new round of funding now values the company at $500 million.

The latest funding round includes investors including Advenza Global Limited, HDFC Bank, Pratithi Investments, Artha Venture Fund, and several others.

With this funding, the company will now start its expansion at the recently allocated land near the upcoming Kulasekarapatnam launchpad.

The company has got overwhelming response to its recent controlled ascent test launch. Multiple customers have expressed interest in riding with the company to space.