Spacetech startup OrbitAID raises $1.5 million led by Unicorn India Ventures

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Spacetech startup OrbitAID has raised $1.5 million in a pre-seed round led by Unicorn India Ventures, with participation from the Tamil Nadu Startup and Innovation Mission.The Chennai-based company plans to use the funds to conduct an in-space demonstration of docking and refuelling operations and to expand its facilities for on-orbit servicing.

Founded in 2021 by Indian Institute of Science alumni Sakthikumar R, Nikhil Balasubramanian and Mano Balaji K, OrbitAID aims to extend the lifespan and functionality of satellites. Its flagship product, the Standard Interface Docking and Refuelling Port (SIDRP), is designed to enhance the long-term viability of space infrastructure by improving the accessibility and reliability of satellite refuelling operations.

OrbitAID is focused on advancing sustainable space operations through on-orbit refuelling solutions, with plans to create a network of strategically positioned fuel stations in various orbits.

“With this funding, we will conduct our in-orbit demonstration in space for docking and refuelling, bringing us closer to revolutionising satellite servicing and ensuring a sustainable future in space,” said Sakthikumar, who is also the CEO of the company.


The funds will also be used to advance SIDRP to commercial readiness. Recently, OrbitAID tested its patented SIDRP on a zero-gravity flight in Florida, validating its technology in simulated space conditions.

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The company’s major clients include space and defence agencies, telecommunication providers and satellite operators. In the last 12 months, OrbitAID has achieved Technology Readiness Level (TRL)-7 for docking and refuelling tests, he said.

The company is now aiming to reach TRL-6 for its refuellable propulsion system, which will enhance its readiness for deployment and help secure refuelling contracts from both government and private space companies, ensuring its commercial viability.

TRL is a standardised framework used to assess the maturity of a technology.

This funding comes at a time when the Indian government is actively encouraging private partnerships in the space tech sector. Last year, the Union Cabinet approved a Rs 1,000-crore venture capital fund under the IN-SPACe programme to support around 40 space-focused startups in the country.

“As a deep tech-focused investor, emerging technologies within space tech, drones and IoT are of massive interest to us. We believe highly innovative businesses in space tech will lead India’s journey of global dominance beyond the confines of our planet,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures.



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Spacetech startup OrbitAID raises $1.5 million led by Unicorn India Ventures


Spacetech startup OrbitAID has raised $1.5 million in a pre-seed round led by Unicorn India Ventures, with participation from the Tamil Nadu Startup and Innovation Mission.The Chennai-based company plans to use the funds to conduct an in-space demonstration of docking and refuelling operations and to expand its facilities for on-orbit servicing.

Founded in 2021 by Indian Institute of Science alumni Sakthikumar R, Nikhil Balasubramanian and Mano Balaji K, OrbitAID aims to extend the lifespan and functionality of satellites. Its flagship product, the Standard Interface Docking and Refuelling Port (SIDRP), is designed to enhance the long-term viability of space infrastructure by improving the accessibility and reliability of satellite refuelling operations.

OrbitAID is focused on advancing sustainable space operations through on-orbit refuelling solutions, with plans to create a network of strategically positioned fuel stations in various orbits.

“With this funding, we will conduct our in-orbit demonstration in space for docking and refuelling, bringing us closer to revolutionising satellite servicing and ensuring a sustainable future in space,” said Sakthikumar, who is also the CEO of the company.


The funds will also be used to advance SIDRP to commercial readiness. Recently, OrbitAID tested its patented SIDRP on a zero-gravity flight in Florida, validating its technology in simulated space conditions.

Discover the stories of your interest


The company’s major clients include space and defence agencies, telecommunication providers and satellite operators. In the last 12 months, OrbitAID has achieved Technology Readiness Level (TRL)-7 for docking and refuelling tests, he said.

The company is now aiming to reach TRL-6 for its refuellable propulsion system, which will enhance its readiness for deployment and help secure refuelling contracts from both government and private space companies, ensuring its commercial viability.

TRL is a standardised framework used to assess the maturity of a technology.

This funding comes at a time when the Indian government is actively encouraging private partnerships in the space tech sector. Last year, the Union Cabinet approved a Rs 1,000-crore venture capital fund under the IN-SPACe programme to support around 40 space-focused startups in the country.

“As a deep tech-focused investor, emerging technologies within space tech, drones and IoT are of massive interest to us. We believe highly innovative businesses in space tech will lead India’s journey of global dominance beyond the confines of our planet,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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