To support startups in space sector, the centre approves Rs 1,000 Cr fund
A venture capital fund worth Rs 1,000 crore has been approved by the Union Cabinet to assist startups in the space sector. With the goal of promoting advancements in space technology and accelerating the growth of the private space industry, the fund will support about 40 startups throughout India.
In order to keep domestic space companies, the Center anticipates that this capital infusion will draw in more money for later stages of development.
The fund, which Finance Minister Nirmala Sitharaman announced during the Union Budget 2024–2025, will be used over a five-year period, with an average of Rs 150–250 crore being used annually. Rs 150 crore has been set aside for FY26, following three years of Rs 250 crore annually and the final year of Rs 100 crore.
The fund will be administered by the Indian National Space Promotion and Authorization Centre (IN-SPACe), which is in charge of encouraging private sector involvement in the space sector.
Depending on the company’s stage, growth trajectory, and possible influence on national space capabilities, the suggested investment ranges from Rs 10 crore to Rs 60 crore. Up to Rs 30 crore may be invested in the growth stage, and between Rs 30 and Rs 60 crore may be invested in the late growth stage.
Agnikul Cosmos, Skyroot Aerospace, Bellatrix, GlaxEye, Dhruva, SatSure, Vesta Space, Digantata, and InspeCity are among the Indian space tech startups that have raised venture capital.
