Deeptech startup Dream Aerospace has raised Rs 10 crore in pre-Series A funding round led by 247VC with Campus Angels Network (CAN). The current round also saw participation from Chandigarh Angels Network and other Angel Investors.
Prior to this, the Chennai-based startup had secured Rs 3 crore in a pre-seed funding round led by Inflection Point Ventures (IPV) in January last year.
The fresh funds will be deployed to complete flight qualification of ATOM thruster series and CUBEHOOD propulsion module, expanding the production and testing facility, and executing the first in-orbit demonstration of the CUBEHOOD module, Dream Aerospace said in a press release.
Dream Aerospace, an IIT Kanpur-incubated deeptech firm co-founded in 2022 by Hari Krishnan KJ and Rogith S, is developing a green chemical propulsion technology for the worldwide small satellite and CubeSat market.
According to industry research, India’s space economy is expected to rise to USD 13 billion by the end of this year, with the propulsion and satellite manufacturing sectors playing a crucial role.
