Space tech startup Agnikul raises Rs 23.4 crore funding led by Pi Ventures

Space technology startup Agnikul has raised Rs 23.4 crore in pre-series A funding led by Pi Ventures, as it looks to develop a satellite launch vehicle with a payload capacity of up to 100 kgs.

The funding round also saw participation from Hari Kumar of LionRock Capital, Artha Ventures, LetsVenture, Globevestor, IIM-Ahmedabad’s CIIE and existing investor Speciale Invest.

Agnikul, which is operating out of the National Centre for Combustion Research at IIT Madras, said it will utilise the funding to facilitate ground testing, fabrication and expansion of its team. The company is hoping to build a modular ultra light and affordable satellite launch vehicle.

Source: Economic Times

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