Bellatrix Aerospace is set to raise ₹107 crore (approximately $11.7–12.8 million) in its ongoing Series B funding round, marking its first capital raise in nearly a year and signaling continued investor confidence in India’s expanding private space ecosystem.
According to regulatory filings, the company’s board has approved the issuance of 10 equity shares and 8,337 Series B preference shares priced at ₹127,695 each to facilitate the fundraising. The round is being led by Cactus Partners Fund with an investment of ₹28.5 crore, followed by Hero Enterprise Partner Ventures contributing ₹25 crore. Additional participation comes from GrowX Ventures and 35 North India Growth, investing ₹16.26 crore and ₹13 crore respectively, along with other existing investors.
The funding round is expected to value the Bengaluru-based startup at approximately ₹870 crore, representing a 2.7x increase over its previous valuation.
Founded by Rohan M Ganapathy and Yashas Karanam, Bellatrix Aerospace focuses on developing advanced in-space propulsion systems for satellites. Its portfolio includes electric and green propulsion technologies designed to support satellite deployment, orbital mobility, and efficient space missions.
The company’s solutions enable the launch and positioning of small satellites as well as the transfer of larger communication satellites to geostationary orbit. It has also been working with organizations such as ISRO and various commercial space players to advance propulsion technologies, including microwave plasma thrusters and orbital transfer vehicles.
As part of its global expansion strategy, Bellatrix recently announced plans to establish a propulsion systems manufacturing facility in Delaware, United States, to serve the North American market.
The company has raised approximately $24.2 million to date, including a $3 million pre-Series B round in April 2025 and an $8 million Series A round in 2022, with backing from investors such as BASF Venture Capital.
Financially, Bellatrix remains in its early growth phase, reporting revenue of ₹1.75 crore alongside losses of ₹25.27 crore. The fresh capital is expected to be deployed toward accelerating product development, scaling manufacturing capabilities, and expanding its global footprint.
With increasing demand for cost-efficient satellite mobility and in-space logistics, Bellatrix Aerospace is positioning itself to play a key role in shaping the next phase of innovation in the global spacetech industry.
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