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Three of the country’s ace stock investors — Rakesh Jhunjhunwla, Ashish Kacholia and RK Damani — have picked up stakes in Team Indus, the space start-up that will be sending India’s first privately funded spacecraft to Moon next year.
The three invested at the same time, though separately, in recent weeks, according to Rahul Narayan, co-founder and head of the Bengaluru-based company. Details of the individual stakes or infused amounts were not available.
Team Indus is about to raise its second round of financing, Narayan said, adding: “The overall mission will end up costing us $75 million or around ₹450 crore.”
The start-up is the only Indian contestant among the four from across the world that plan to send spacecraft to soft-land on Moon before end-December 2017, deploy a rover and send lunar pictures from there.
Last year, it won a $1-million milestone prize from Google Lunar X Prize for completing the viable concept of its Moon lander.
The final prize amount stands at $30 million.
Infosys co-founder Nandan Nilekani, its angel backer, came on board two years back and is now the single largest investor in the company.
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