Bellatrix Aerospace, an Indian Institute of Science incubated space-tech startup, has raised $3 million in a pre-Series A round led by IDFC-Parampara, StartupXseed, Karsemven Fund and Survam Partners (Suman Kant Munjal family office).
Other investors who participated in the round include actor Deepika Padukone (through KA Enterprises LLP), GrowX Ventures, CIIE (an incubator of IIM Ahmedabad) and SINE (an incubator of IIT Bombay), the company said in a statement.
“This funding will help Bellatrix to space qualify our products soon. During the coming months, we will be subjecting our thrusters to rigorous ground qualification tests and also work on key innovations that will make our products stand out. We will also be expanding to key global locations,” Rohan Ganapathy, co-founder at Bellatrix said.
The company is currently in process of strategic partnerships and also collaborations for in-orbit demonstration of its products.
Eiliant Advisors was the sole financial advisor to Bellatrix for this transaction.
Bellatrix, a full suite solution provider for in-space propulsion systems, was founded in 2015 by a team of engineers to develop advanced in-space propulsion systems and rocket propulsion technologies.
In the past few years, the space industry has witnessed a spurt in the number of companies, satellite, operators working on missions for earth observation, imaging, navigation and technology applications with an increased thrust towards the utilisation of the low earth orbit.