InspeCity, a startup in space technology, has raised $1.5 million in a pre-seed round of funding that was jointly led by Speciale Invest, Antler India, and Veda VC. Anicut Capital, DeVC, and others participated in the funding round as well.
According to a press release from InspeCity, the money will be used to help the company demonstrate its technology for in-orbit servicing by demonstrating how an old satellite can dock with a vehicle for life-extension and deorbiting activities (VEDA) on an air-bearing platform.
InspeCity is a 2020 startup that is creating Earth 2.0 in the vicinity of the planet. The engineers at InspeCity are currently building a fleet of vehicles for life-Extension and Deorbiting Activities (VEDA) that will be outfitted with Robotically Inserted Guidance systems (RIG) to support satellite maintenance, active debris removal, and satellite deployment in all orbits. Long-term construction of creative, expansive human habitats in space, free from the constraints of solar-planetary environments, will be facilitated by the large fleet of RIG-equipped VEDAs.
According to InspeCity, it can meet the growing demand for non-GEO satellite constellations because of its cutting-edge technology and long-term outlook, making it a significant player in the expanding market.
For the development of cubesat micropropulsion systems, InspeCity previously received grants of Rs 1.5 crore from the iDEX platform and Rs 10 lakh from the TIH Foundation at IIT Mumbai.