Space tech startup Manastu Space raises $3 million in round led by Capital-A

Spacetech startup Manastu Space has raised $3 million in a fresh funding round led by a venture capital (VC) firm, Capital-A. 

The round also saw participation from Capital 2B, Indian Angel Network (IAN), E2MC, the Bhagnani Family Office, and Jeet Chandan, among others.

The space tech company plans to use the funds to enable commercial deployment of its green propulsion and debris-avoidance solutions. 

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“This funding is mainly geared towards completing and reaching Technology Readiness Level 9 (TRL-9) from TRL-8. TRL-9 is where we have long-term flight heritage for our propulsion system in the relevant environment," founder Tushar Jadhav said.

About Manastu Space

Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, Manastu Space has signed contracts with clients like the Defence Research and Development Organisation (DRDO), France-based Latitude, and Innovations for Defence Excellence (iDEX), among others, to develop its products.

The startup also aims to develop key in-orbit servicing technologies like satellite refuelling, deorbiting, and extending mission life. It plans to expand into the US, Europe, and Asia, working with satellite makers, constellation operators, and service integrators.

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In December last year, Manastu Space tested its green propulsion system, VYOM 2U, in space onboard PSLV C-60. This system is a non-toxic alternative to traditional chemical and electric propulsion systems.