Spacetech start-up Agnikul Cosmos recently secured $17 million in a funding round that values the company at $500 million.

This capital infusion came from a blend of family offices and institutional investors, including notable names such as Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, and 100X.VC.

The Chennai-headquartered company specialises in building small satellite launch vehicles and 3D-printed rocket engines. The funds raised will be deployed to significantly expand manufacturing capacity for aerospace and rocket components and to accelerate the stage-recovery program, which is part of their reusable rocket system initiative aimed at reducing launch costs. Additionally, the company is preparing for increased launch frequency and upcoming launch attempts.

One of the major projects supported by this funding is the construction of an integrated space campus on a 350-acre plot allocated by the Tamil Nadu government.

This facility will consolidate Agnikul’s design, production, and testing capabilities under one roof, enabling end-to-end manufacturing and testing of launch vehicle systems.

Agnikul's recent technical achievements include the successful sub-orbital test flight of their 3D-printed semi-cryogenic rocket, Agnibaan, launched from India's Sriharikota space centre.

This accomplishment made Agnikul the second private Indian company to conduct a launch from Indian soil, following Skyroot Aerospace. Their technology leverages a single-piece, fully 3D-printed Agnilet engine, touted as the world's first of its kind.

The cofounders Srinath Ravichandran and Moin SPM highlighted that the fresh capital gives them the capacity to execute more frequent launches, and refine innovations like rocket stage recovery and upper stage extension, enhancing the economics of launch services and promoting sustainability in space access.

Globally, demand for dedicated small-satellite launch services is growing, with Agnikul already serving clients in India, Australia, and the Middle East.

The increase in investor interest captures the mounting momentum in India’s private spacetech sector, boosted by government reforms since 2020 that have eased private sector participation, and a dedicated ₹1,000-crore venture capital fund recently approved by the government for spacetech start-ups.

Previously, Agnikul raised $55.8 million from investors including Pi Ventures and Artha Venture Fund, positioning it among the leading Indian private space companies. Investor sentiment reflects a growing confidence in India's private space industry, with Agnikul's trajectory being seen as a signal that the sector has arrived on the global stage owing to its technological innovation and disciplined execution.

This round is part of a wider surge of funding in the sector, exemplified by Skyroot Aerospace’s $27.5 million round led by Singapore’s Temasek in 2023.

Agnikul’s ongoing efforts to build reusable launch architecture and extend operational life of rocket stages also underline its commitment to cost-efficient and innovative orbital access, underscoring its competitive edge in the emerging global market for small satellite launches.​

Agencies