Powered by

Home Funding News

Abyom has Secured $2.5 Mn in the First Tranche of $5.4 M Seed Funding

Founded in 2020, Abyom focuses on reusable space technology to close the gap in satellite launch services. This investment also reflects increasing interest in India’s space tech scene, fueled by startups like Abyom and the achievements of ISRO.

By Ayushi Jain
New Update
Abyom has Secured $2.5 Mn in the First Tranche of $5.4 M Seed Funding

Hyderabad-based space tech startup Abyom has raised $2.5 million from SCOPE Ventures as part of its $5.4 million seed funding round. The funding will support Abyom in developing reusable rockets and launch vehicles (RLVs) to address the growing demand for satellite launches.

Brief about Aboym

Founded in 2020, Abyom focuses on reusable space technology to close the gap in satellite launch services. By cutting costs and increasing launch frequency the company aims to make satellite deployment more accessible for industries like telecommunications, agriculture and defense.

Abyom’s reusable rockets are designed for multiple launches reducing costs and space debris. The company envisions reusable technology as the future of satellite launches promoting sustainable space exploration.

Read also - GPS Renewables has Named Deepak Agarwal as its New Appointment

The funds will be used for:

Developing reusable launch technologies.
Expanding manufacturing capabilities.
Building strategic partnerships to grow its market reach.

With the space industry growing rapidly Abyom’s focus on reusable technology positions. It as a key player in India’s emerging space sector. The company plans to use the next round of funding to speed up product development and launch operations.

This investment also reflects increasing interest in India’s space tech scene, fueled by startups like Abyom and the achievements of ISRO.

About Abyom

Abyom, short for "Above and Beyond Vyom," focuses on making space technology accessible, sustainable, and valuable for people and the planet. Its offerings include reusable launch vehicles, space tourism, and in-space manufacturing, aiming to simplify access to space for various activities.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.