Space Tech Firm Agnikul Raises $26.7 Million In Series B Capital
Notable venture capital investors including Celesta Capital, Rocketship.vc, Artha Venture Fund and Artha Select Fund, Mayfield India, as well as current investors pi Ventures, Speciale Invest, Mayfield India and others, participated in the round, the press statement read
Agnikul Cosmos, an Indian space-tech firm based at the Indian Institute of Technology (IIT) Madras has completed its Series-B funding of USD26.7 million, bringing its total cash received to date to USD 40 million.
Notable venture capital investors including Celesta Capital, Rocketship.vc, Artha Venture Fund and Artha Select Fund, Mayfield India, as well as current investors pi Ventures, Speciale Invest, Mayfield India and others, participated in the round, the press statement read.
“We have come a long way in reaching incredible milestones with our technology, launchpad, mission control and manufacturing facility. With this capital, we will continue to drive our technology forward, building facilities and testing systems that we need to deliver a reliable product for our customers,” said Srinath Ravichandran, Co-founder and CEO, Agnikul.
Agnikul previously unveiled “Agnilet,” the first single-piece 3D-printed engine fully designed and produced in India. It successfully underwent testing in early 2021, marking a significant technological milestone for the businessand the Government of India granted it a patent for the engine in 2022.