[[{“value”:”
Spacetech startup InspeCity has raised $5.6 million (around Rs 46 crore) in its Seed funding round led by Ashish Kacholia, with participation from Speciale Invest, Shastra VC, Antler India, DeVC, MGF-Kavachh, and Anicut Capital.
Earlier in April 2023, the Mumbai-based startup had raised $1.5 million in a pre-seed funding round led by Speciale Invest, and others.
Founded by Arindrajit Chowdhury, a professor at IIT Bombay, InspeCity is developing in-space servicing, assembly, and manufacturing (ISAM) solutions focused on satellite life-extension, propulsion, and rendezvous, proximity operations, and docking (RPOD) technologies.
The proceeds will be used to support ongoing R&D and scale the company’s fully integrated life-extension platform, VEDA (Vehicle for Life Extension and De-orbiting Activities), which is set for a demo mission in 2027.
The startup aims to offer lower-cost alternatives to global competitors and has also signed an MoU with Japan’s Orbital Lasers to explore laser-based space debris removal solutions. While the US and Europe remain major markets, InspeCity sees emerging opportunities in Southeast Asia and West Asia.
InspeCity plans to target the $14 billion ISAM market, projected to grow significantly by 2030.
“}]]
Read More Entrackr : Latest Posts