Mumbai-based spacetech startup InspeCity Datalabs has raised $5.6 million (INR 47.28 Cr) in a seed funding round led by veteran investor Ashish Kacholia’s Lucky Investment Managers. The round also saw participation from notable backers such as Speciale Invest, MountTech Growth Fund (MGF), Kavachh, Shastra VC, and existing investors including Antler India, DeVC India, and Anicut Capital.
Founded in 2022 by IIT Bombay professor Arindrajit Chowdhury and his student Tausif Shaikh, InspeCity is working on in-orbit satellite servicing, deorbiting solutions, and orbital robotics. Its core technology stack includes:
- Propulsion systems
- Robotics
- Rendezvous and Proximity Operations (RPO)
CEO Arindrajit Chowdhury shared that the funds will primarily go towards developing and demonstrating key technologies, including a planned mission to test propulsion systems.
Key Projects and Partnerships:
- Building an autonomous robotic platform on ISRO’s PSLV Orbital Experimental Module (POEM) to enable satellite servicing.
- Signed a MoU with Japan’s Orbital Lasers for laser-based space debris removal.
Industry Backdrop:
India’s spacetech sector is rapidly evolving, projected to become a $44 billion market by 2030. The Indian government has actively nurtured this momentum by:
- Allocating INR 1,000 Cr for a VC fund to support spacetech startups (managed by SIDBI Venture Capital).
- Launching the Indian Space Policy 2023 and setting up IN-SPACe as the sector’s nodal body.
- Easing foreign direct investment norms in the space sector.
Sector Buzz:
Other recent fundings in India’s spacetech sector include:
- SatLeo Labs: $3.3 Mn for thermal imaging payload development.
- Sisir Radar: $1.5 Mn to boost R&D and manufacturing.
With this fresh round, InspeCity’s total funding crosses $7 Mn, reinforcing its ambition to build a future where autonomous orbital habitats and satellite servicing platforms are a reality.
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