Mumbai-based Manastu Space Technologies has secured $3 million in an extended Series A funding round to advance its sustainable propulsion and in-orbit refuelling solutions. The funding was led by venture capital firm Capital A, marking its first investment in a space technology company.
Tushar Jadhav, Co-founder and CEO of Manastu Space, said, “With our green propellant already demonstrated in orbit and key systems for in-orbit refuelling under development, we are well prepared to build the infrastructure required for sustainable space operations.”
The round also saw participation from existing investors, including Capital 2B, IAN, E2MC, the Deepak Bhagnani family office, Jeet Chandan, and several angel investors.
The company plans to utilise the funds to accelerate the commercial rollout of its green propulsion system and debris avoidance technology. These solutions will play a crucial role in supporting the development of satellite refuelling, deorbiting, and mission life extension systems.
Manastu Space also aims to expand its presence in the United States, Europe, and Asia by working closely with satellite original equipment manufacturers and constellation operators.
According to IN-SPACe, India’s private space economy is projected to grow from $8 billion in 2022 to $40 billion by 2040, indicating significant growth opportunities in the sector. Ankit Kedia, Founder and Lead Investor at Capital A, said, “Manastu’s focus on solving a specific challenge in satellite propulsion with a scalable solution stood out. Their successful in-orbit demonstration gives them a clear advantage.”
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