Thrustworks Dynetics, a propulsion systems company that designs and develops advanced rocket engine systems and subsystems for commercialisation, has raised ₹7 crore in its latest funding round led by Jamwant Ventures, with participation from Piper Serica, SINE-IIT Bombay, and other notable investors.
The fresh funds raised will be used to scale the Integrated Rocket Facility, enhance R&D in advanced propulsion systems, and expand testing capabilities.
Founded in 2023 by Manan Joshi, Kalyani Shinde, and Vinith Shenoy, Thrustworks Dynetics is a propulsion company that designs and develops liquid rocket propulsion systems and subsystems for commercialisation.
The company is incubated at SINE-IIT Bombay and operates a facility in Pune.
Thrustworks Dynetics is developing ANYA, a liquid rocket engine platform, along with proprietary software and testing infrastructure. Notably, the company has built India’s first Mobile Rocket Engine Test Bed, enabling rapid and flexible hot-fire testing capabilities.
Thrustworks Dynetics is building modular, scalable, and high-performance engines, along with Micro-combustors and High Thrust High Impulse (HTHI) Engines. As part of this roadmap, Thrustworks is setting up India’s First Integrated Rocket Facility that will bring together design, manufacturing, and testing under one roof, ensuring faster development cycles and operational agility.
Thrustworks Dynetics is collaborating with leading space and aerospace stakeholders such as ISRO, IN-SPACe, Bharat Forge, Godrej Aerospace, and INOXCVA.
Manan Joshi, Co-founder of Thrustworks Dynetics, said, “We position ourselves as enablers to the larger aerospace industry by providing customisable, scalable and modular liquid rocket engines in order to reduce product development time for our customers from years to months. This funding will accelerate our journey in developing India’s most advanced propulsion systems while strengthening our integrated test and manufacturing infrastructure.”
Cdr Navneet Kaushik, Co-founder of Jamwant Ventures, said, “At Jamwant Ventures, we believe in backing visionary companies that build deep-tech capabilities for the future of India’s space sector. Thrustworks Dynetics combines technical excellence, industry collaborations, and bold ambition to emerge as a game-changer in propulsion technology.”
Abhay Agarwal, Managing Partner, Piper Serica Angel Fund, said, “We see TWD’s propulsion technology as a significant step forward in enabling more efficient, reliable, and sustainable access to space. Our investment underscores both the strength of their engineering approach and the practical applications it can unlock across space and defense sectors.”
