Spacetech Startup OrbitAID Raises $1.5 Mn In Pre-seed Round

Chennai-based OrbitAID, a space tech startup has raised $1.5 million in a pre-seed funding round led by Unicorn India Ventures, with additional support from TANSIM (Government of Tamil Nadu) and Innovation Mission.

The startup plans to use the funds for an in-space demonstration of docking and refueling, as well as to expand its facilities for on-orbit servicing.

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Sakthikumar R, Founder and CEO, OrbitAID Aerospace, said, “We are excited to have secured funding from Unicorn India Ventures and TANSIM. This milestone not only validates our vision but also reflects the dedication of our team in advancing sustainable space operations.

“With this funding, we will conduct our in-orbit demonstration in space for docking and refueling, bringing us closer to revolutionizing satellite servicing and ensuring a sustainable future in space,” Sakthikumar added.

Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, said, “As a deep tech focused investor, emerging technologies within space tech, drones and IoT are of massive interest to us. We believe highly innovative businesses in space tech will lead India’s journey of global dominance beyond the confines of our planet.

“OrbitAID has been working tirelessly in that direction to meet the growing demand of a robust refuelling ecosystem in space for the efficient utilisation of spacecraft resources.The funding will help the company in expanding facilities for on-orbit servicing operations and scale the SIDRP product to an advanced stage. Hence, we believe the market opportunity is huge and the company has built the right momentum to not only capitalise on this segment but be the market leader as well,” Majumdar added.

The company's main clients include space and defense agencies, telecom providers, and satellite operators.

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In the past 12 months, OrbitAID has reached Technology Readiness Level (TRL)-7 for docking and refueling tests.

About OrbitAID 

Chennai-based OrbitAID was founded in 2021 by Sakthikumar R, Nikhil Balasubramanian, and Mano Balaji K, It is an aerospace company focused on improving space operations with on-orbit refueling solutions. It is working to create a network of fuel stations in space at different orbits.

OrbitAID aims to extend the lifespan and performance of satellites, reduce space debris and improve the long-term sustainability of space infrastructure with its Standard Interface Docking and Refueling Port (SIDRP). This will make satellite refueling operations more accessible and reliable than ever before.

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