Space Tech Startup InspeCity Raises $5.6 Million In Seed Funding To Drive In-Orbit Satellite Servicing
The investment will also help InspeCity's transition from R&D to commercialisation.
Indian space technology company InspeCity has announced a $5.6-million seed-funding round to power its vision of sustainable space operations.
The round was led by technology investor Ashish Kacholia, with participation from Speciale Invest, Shastra VC, Antler India, DeVC, MGF Kavachh and Anicut Capital.
InspeCity said the funding would enable it to qualify its technologies for space over the next 12 months, grow its engineering team, and accelerate its satellite life-extension platforms in global markets.
The investment will also help InspeCity's transition from R&D to commercialisation, and help its development of propulsion, robotics, and rendezvous, proximity operations and docking technologies.
InspeCity's proprietary stack, including advanced propulsion systems, robotic arms, and precision sensing suites, has achieved technical milestones and contract wins under India's iDEX defence innovation challenges. The company also has strategic collaborations with leading space-tech ecosystems in Taiwan and Japan.
"Our mission is to redefine the economics and sustainability of satellite operations. By extending the lifespan of on-orbit assets and reducing orbital debris, we unlock a cleaner, more sustainable and cost-efficient future for space," said Arindrajit Chowdhury, CEO of InspeCity. "This capital infusion validates our unique approach and fast-tracks our journey to market leadership in satellite life-extension."
InspeCity is an Innovations for Defence Excellence programme awardee, which has catalysed key technological milestones for the company's satellite life-extension platforms.
"We, at Lucky Investment, are proud to lead this seed round in InspeCity," Ashish Kacholia, lead investor in this seed round, said. "Their bold vision for satellite life-extension, backed by a fully integrated stack of propulsion, robotics and sensing technologies, positions them to become a global leader in the domain of in-orbit servicing."
