Agnikul Cosmos, a space-tech company, has raised $17 million (approximately ₹150 crore) in a fresh funding round at a valuation of $500 million.
The round saw participation from family offices and marquee institutional investors such as Advenza Global, Atharva Green Ecotech, HDFC Bank, Artha Select Fund, Prathithi Ventures, and 100X.VC.
The fresh capital raised will be used to scale its production units of aerospace and rocket components and advance its stage-recovery program. A portion of the funds is earmarked for the development of Agnikul’s upcoming integrated space campus on the 350 acres allocated by the Tamil Nadu Government, which will be used for building end-to-end facilities for manufacturing & testing of launch vehicle systems.
Agnikul will also use the fresh funds to strengthen its reusable launch architecture, building on its recently granted patent that extends the operational life of upper stages.
Founded in 2017 by Srinath Ravichandran, Moin SPM, Satyanarayanan Chakravarthy and Janardhana Raju, Agnikul Cosmos is a space-tech company building single-piece 3D-printed rocket engines and end-to-end space transportation solutions.
Agnikul designs, manufactures, tests and launches orbital-class rockets for micro and nano satellites.
Agnikul is building an end-to-end launch ecosystem competing globally.
Agnikul also recently announced its new Large Format Metal Additive Manufacturing Unit, which will allow it to use 3d printing for multiple subsystems beyond just its engines.
Srinath Ravichandran, CEO and Co-founder, AgniKul Cosmos, said, “Given our previous successful controlled ascent launch that allowed us to demonstrate all our patented technologies with ISRO and IN-SPACe support, we have now been able to scale our strategy to include lower stage recovery and upper stage extension – features that will make the unit economics of launch services much better. This fund raise allows us to work on such missions while also focusing on scaling launch frequency and building for the world, from India.”
Moin SPM, Co-founder & COO of Agnikul, said, “With growing demand and more than a dozen customers eager to launch with us, scaling our operational depth was the natural next step. The indigenous facility, which is planned near the new upcoming launchpad of India, will equip us to serve these missions on schedule and with the responsiveness the market expects.”
Arun Kumar, Managing Partner, Celesta Capital, said, “This is a strong endorsement of their continued progress and promising global potential. We remain very excited about the prospects of Agnikul and to continue supporting them as early investors and board members. They are at the right place at the right time, poised to meet the enormous unmet demand for low-earth orbit satellites both globally and domestically, and pursuing this market with a singularly innovative approach. Agnikul is a standout example of the cutting-edge deep tech innovation we see in India today.”
Anirudh A. Damani, Managing Partner, Artha Select Fund, said, “Agnikul’s trajectory is a clear signal that India’s private space industry has arrived and the world is now watching closely. What excites us is their commitment to inventing technology that doesn’t exist elsewhere. That ethos, coupled with disciplined execution, gives them a truly global edge. With this round, to which we’ve contributed our largest cheque yet through Artha Select Fund, we are reaffirming our belief on Agnikul playing a defining role in the future of orbital access.”
