India, June 11 -- The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has picked the first set of three Indian spacetech startups for funding under its Technology Adoption Fund (TAF) Scheme.

Astrobase Space Technologies, SatSure Analytics and TakeMe2Space have been selected by the agency for financial support to foster their tech.

IN-SPACe said in a statement that it will offer technical guidance, monitoring, and ensure milestone-linked disbursement of funds to ensure successful implementation of their projects.

This is the first instance when the agency has invested in Indian startups. However, its investment thesis has been in the making for more than a year now. The investment for every project was capped at Rs.2...