Mumbai-based Manastu Space Technologies has raised $3 million in an extended Series A funding round to further develop its sustainable propulsion and in-orbit refuelling solutions. The round was led by Capital-A, marking its first investment in the space-tech sector, with additional participation from existing backers Capital 2B, IAN, E2MC, the Deepak Bhagnani family office, Jeet Chandan, and multiple angel investors.
Announcing the milestone, Tushar Jadhav, Co-founder and CEO of Manastu Space, said: “With our green propellant already demonstrated in orbit and key systems for in-orbit refuelling under development, we are well prepared to build the infrastructure required for sustainable space operations.”
Accelerating Commercialisation and Innovation
The newly secured capital will be directed toward the commercial rollout of Manastu’s green propulsion system and its debris-avoidance technologies. The company is also progressing work on satellite refuelling, deorbiting, and mission life extension capabilities—critical areas for enhancing satellite longevity and operational efficiency.
Highlighting the investment rationale, Ankit K., Founder of Capital-A, noted: “Manastu’s focus on solving a specific challenge in satellite propulsion with a scalable solution stood out. Their successful in-orbit demonstration gives them a clear advantage.”
Global Expansion Plans
In addition to scaling operations in India, Manastu Space intends to expand its presence in the United States, Europe, and Asia, with a focus on collaborating with satellite OEMs and constellation operators. The company sees a significant opportunity to tap into the evolving needs of the global satellite services market, where propulsion efficiency, sustainability, and on-orbit servicing are becoming increasingly important.
Market Opportunity
The growth trajectory of India’s private space sector adds further momentum to Manastu’s plans. According to projections from IN-SPACe, the country’s private space economy is expected to expand from $8 billion in 2022 to $40 billion by 2040. As satellite constellations grow and mission lifespans increase, demand for efficient propulsion, debris mitigation, and refuelling technologies is anticipated to surge.
By combining its demonstrated green propellant technology with upcoming in-orbit servicing capabilities, Manastu Space is positioning itself as a key player in sustainable space operations—poised to serve both domestic and international markets at scale.
