OrbitAID Aerospace, a Chennai-based Space Tech startup has raised $1.5 million in a pre-seed funding round led by Unicorn India Ventures. The round also saw participation from TANSIM (Government of Tamil Nadu).
The funds raised will be used to conduct an in-space demonstration of docking and refuelling operations, expand facilities for on-orbit servicing operations, advance SIDRP (Standard Interface Docking and Refuelling Port) to commercial readiness and scale team capabilities to align with upcoming projects.
OrbitAID also plans to expand and establish advanced facilities to further the development of its on-orbit servicing technologies. The company is also looking to grow its team and enhance its product portfolio with new innovations for sustainable space missions.
In the next 12 months, OrbitAID will conduct in-orbit demonstrations of docking and refueling to validate the technology and operational readiness.
OrbitAID also aims to achieve TRL 6 for the refuelable propulsion system, enhancing its readiness for deployment and securing a refueling contract from government or private space companies, establishing commercial viability.
Sakthikumar R, Founder and CEO, OrbitAID Aerospace, said, “We are excited to have secured funding from Unicorn India Ventures and TANSIM. This milestone not only validates our vision but also reflects the dedication of our team in advancing sustainable space operations. With this funding, we will conduct our in-orbit demonstration in space for docking and refueling, bringing us closer to revolutionizing satellite servicing and ensuring a sustainable future in space.”
Nikhil, Co-founder and COO, OrbitAID Aerospace, said, “This funding is a significant step forward for OrbitAID. It enables us to bring our cutting-edge technologies, like SIDRP, to the forefront of space innovation. The upcoming in-orbit demonstration will showcase our team’s dedication to advancing sustainable and efficient satellite servicing solutions.”
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “As a deep tech-focused investor, emerging technologies within space tech, drones and IoT are of massive interest to us. We believe highly innovative businesses in space tech will lead India’s journey of global dominance beyond the confines of our planet. OrbitAID has been working tirelessly in that direction to meet the growing demand of a robust refuelling ecosystem in space for the efficient utilisation of spacecraft resources. The funding will help the company in expanding facilities for on-orbit servicing operations and scale the SIDRP product to an advanced stage. Hence, we believe the market opportunity is huge and the company has built the right momentum to not only capitalise on this segment but be the market leader as well.”
Founded in 2021 by Sakthikumar R, Nikhil Balasubramanian and Mano Balaji K, OrbitAID is an Aerospace company that is focused on advancing sustainable space operations through innovative on-orbit refueling solutions and is actively forging ahead to create a network of cutting-edge fuel stations in space that are strategically positioned in various orbits.
OrbitAID aims to increase the lifespan and functionality of satellites that will reduce space debris and enhance the long-term viability of space infrastructure with their product Standard Interface Docking and Refueling Port (SIDRP), which will elevate the accessibility and reliability of satellite refueling operations to unprecedented levels.
In the last 12 months, the company has achieved Technology Readiness Level (TRL) 7 for docking and refuelling tests and secured significant partnerships and collaborations.
