[Funding alert] Spacetech Startup SpaceFields Secures $800K in Seed Funding

A seed round led by HVB 88 Angels and O2 Angels Network secured $800,000 (about Rs 6.5 crore) for the spacetech startup Spacefields. This is the business’s first institutional and external fundraising round.

Angel investor groups including Vinners and Burla Angels, as well as former L&TTS managing director and CEO Keshab Panda, Bharat Forge CEO Guru Biswal, Zuari Industries managing director Athar Shahab, and Emaar India CEO Kalyan Chakrabarti, participated in the seed fundraising round.

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The new funding will go towards expanding the company’s workforce, developing and testing vital hardware and other subsystems, and researching and developing energy materials.

SpaceFields said it will be tripling its workforce in the upcoming months to cover mechanical and aeronautical design positions, chemical and propulsion, and avionics. Twelve members make up the team right now, founder and CEO Apurwa Masook said.

About SpaceFields

Founded in 2021 by Apurwa Masook, Sudarshan Samal, and Rounak Agrawal, SpaceFields custom-design and builds next-generation dual-use rocket propulsion systems for commercial spaceflight & national security.

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