Spacetech startup InspeCity Raises $5.6Mn In Seed Funding Round

Spacetech startup Inspecity has secured $5.6 Mn (Rs 47.28 Cr) in its seed funding round led by Lucky Investment Managers, an ace investor Ashish Kacholia’s investment firm.

Speciale Invest, MountTech Growth Fund (MGF) Kavachh, Shastra VC and existing investors such as Antler India, DeVC India and Anicut Capital, also participated in this round.

The startup said it will use the funds to continue research and move toward commercial launch. It plans to build a fully integrated platform for life-extension in space, developing propulsion, robotics, and docking technologies in-house.

Its main focus is on in-space servicing, assembly, manufacturing (ISAM), and propulsion.

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While the US and Europe are key spacetech markets, the startup sees Southeast and West Asia as fast-growing hubs. Last year, it partnered with Japanese startup Orbital Lasers to explore laser-based ways to clear space debris.

“We’re targeting a global market known as ISAM. It’s projected to be about $14 billion by 2030, growing strongly. We want to corner that with VEDA (Vehicle for Life Extension and De-orbiting Activities) as a global offering, and also by selling propulsion systems,” said, Arindrajit Chowdhury, cofounder and CEO of InspeCity.

“Despite big investments, like NASA’s multi-billion-dollar refuelling and capture mission, the technology hasn’t matured to TRL-9 universally. It’s still early days. There’s a massive opportunity for a new player to capture this market,” he said.

Chowdhury said that so far, only one satellite life-extension or refuelling mission has been successful — done by Northrop Grumman in 2020.

With this new funding, the startup has raised over $7 million so far. It’s backed by investors like Veda VC and the Ministry of Defence’s iDEX program.

This comes as India’s spacetech sector is growing rapidly and is expected to become a $44 billion market by 2030.

Aobut InspeCity 

Founded in 2022 by IIT Bombay professor Chowdhury and his student Tausif Shaikh, the Mumbai-based InspeCity is creating technology to service satellites in space and safely remove them when needed.

The spacetech startup is developing a robotic platform that works with ISRO’s PSLV stage-four module (POEM). This will let InspeCity repair satellites in orbit and supports its bigger goal of building a space habitat around Earth.

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