New Delhi: Spacetech startups in India are ready to take off, spurred by government policy, local tech expertise and increasing investor interest. The space tech startups in India are extremely good and can launch a rocket at 1/3 rd the cost as compared to US in the same segment," says Arpit Agarwal, principal at Blume Ventures. In March, Agnikul, a Chennai-based spacetech startup raised ₹23.4 crore led by pi Ventures and in May, Pune-based Vesta Space Technology raised $10 million from US-based Next Capital LLC. “Now is the best time to do a space tech startup, because the government and ISRO have opened up the space sector. Blume’s Agarwal added that deep tech startups working in AI, medical imaging, drones, robotics, automation, and spacetech have lot of potential and there is enough experience available in the ecosystem that a new startup can leverage.

Source: Mint September 13, 2020 10:18 UTC