[Funding Alert] Spacetech Start-Up Agnikul Raises INR 23.4 Cr In Round Led By pi Ventures The company is developing a satellite launch vehicle for payload capacity of up to 100 kilograms. It said it plans to use these funds for ground testing, fabrication and team expansion.

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock | Enhanced by Entrepreneur

Agnikul, a spacetech start-up, has grabbed INR 23.4 crore in a pre-series A round led by deep tech focused early stage venture fund pi Ventures. The round also saw the participation of Hari Kumar of LionRock Capital, Artha Ventures, LetsVenture, Globevestor, CIIE.CO and existing investor Speciale Invest.

The company, which operates out of the National Centre for Combustion Research at IIT Chennai, is developing a satellite launch vehicle for payload capacity of up to 100 kilograms. The vehicle is configurable and can support a payload range of 30-100 kilograms without impacting the economics.

Agnikul plans to use these funds for ground testing, fabrication and team expansion.

Making Space Accessible

With the entire engine 3D-printed, the manufacturing complexity associated with traditional rocket engines is moved to the design in this case, making it an easier and cheaper fabrication process that will be able to deliver launch vehicles within a few weeks. Agnikul claims to be the only company in the world to design a rocket engine which can be printed in a single piece using 3D printing technology.

According to reports, the space industry across the globe has grown significantly into a $350 billion market with many private players entering the sector. It is predicted that in 2022, more than 2500 small satellites will be launched compared to less than 500 today.

"We started Agnikul with the dream of bringing space within everyone's reach. We are doing this by building nimble, reliable and modular rockets that can put small satellites in space on-demand," said Srinath Ravichandran, co founder and chief executive officer at Agnikul.

For pi, this is the first investment in what they call "Beyond Digital space' which includes technological innovations that bring 10x differentiated business value but need not be digital.

"If done right, there is no doubt in my mind that India can be a leader in innovation on a global platform. We are proud to partner with Srinath and Moin on this journey and believe that Agnikul can be a great example of world-class innovation coming from India," said Manish Singhal, founding partner at pi Ventures.

Prabhjeet Bhatla

Former Staff

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

News and Trends

Electric Vehicle Maker Euler Motors Secures USD 20 Mn to Transform Logistics Sector

The funding supports Euler Motors' mission to electrify India's commercial vehicle sector by scaling production, advancing next-gen EV R&D, and boosting growth of the Storm EV for logistics and e-commerce.

Leadership

From Elite Athletes to Tech Titans — Discover the Surprising $100-Million Habit That Leads to Extraordinary Success

Success comes from mastering focus, eliminating distractions and prioritizing what truly matters.

Branding

How Introverts Can Lean Into Their Strengths and Unleash Their Personal Branding Superpower

Introverts are just as well-equipped as extroverts to share their thoughts and messages on social media platforms. Learn why and some tips on how to build confidence and get started on your personal branding journey.

Living

Join Costco's Gold Star Membership Today and Receive a $45 Costco Shop Card by Email

Don't miss your chance to get a one-year Costco Gold Star Membership while it includes $45 you can spend online or in-store