Bengaluru-based start-up, Bellatrix, has raised funding from several sources. The company which was founded in 2015 by a set of young engineers, has been developing low-cost launch vehicles for transporting a growing number of small satellites and novel propulsion systems
Bengaluru: Bellatrix Aerospace Pvt Ltd, a Bengaluru-based space start-up reportedly said that it has raised close to Rs 21 crore in the ‘pre-series A’ round funding. The company has received funding from several sources.
The start-up has received funding separately from the Karnataka government’s Karsemven Fund, IDFC Parampara, StartupXSeed, Survan Pvt Ltd, besides GrowX Ventures, Bollywood star Deepika Padukone’s KA Enterprises LLP, incubators CIIE of IIM Ahmedabad and SINE of IIT Bombay.
Bellatrix was founded in 2015 by a set of young engineers. Since then they have been developing low-cost launch vehicles for transporting a growing number of small satellites and novel propulsion systems.
The company has reportedly said that is on its way to expand its presence. They are also developing a range of launchers.
It would now speed up demonstration of its rocket technologies in space and their qualification.
According to reports, co-founder and CEO Rohan Ganapathy said that they will be subjecting their thrusters to rigorous ground qualification tests in the upcoming months. They will also be working on key innovations and are looking to expand to key global locations as well.
Co-founder and COO Yashas Karanam reportedly said that Bellatrix, now a team of 14 will look at doubling its strength.
Bellatrix is at the cusp of commercialising path breaking innovation in space technology which has a huge addressable market globally, Jatin Desai, general partner at Parampara Capital was quoted as saying.
The start-up is located in the Indian Institute of Science campus, Bengaluru.
The space start-up is presently working an electronic propulsion system for the Indian Space Research Organisation (ISRO). They are also working on projects of other undisclosed customers.
From Bengaluru to moon: NASA picks homegrown company as part of its lunar expedition in 2020
Earlier this month, there were reports released on TeamIndus, incorporated as Axiom Research Labs, Bengaluru, which joined the consortium led by OrbitBeyond, a US space transportation company, in November 2018. NASA has tasked them to do lander engineering, which refers to the process of landing on the moon for their upcoming lunar mission.
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.
Last Updated Jun 24, 2019, 5:11 PM IST