New Delhi, March 30 -- Space-tech startup Bellatrix Aerospace has raised $20 million (around Rs 189 crore) in its pre-Series B growth round led by Cactus Partners.
New investors such as 35 North Ventures, Indusbridge Ventures and Monarch Holdings, and existing investors Inflexor, Pavestone, GrowX, Startup Xseed and Survam Partners, also participated in the round.
Bellatrix Aerospace, founded in 2015 and incubated at the Indian Institute of Science (IISc) Bengaluru, is a space mobility company that develops and manufactures propulsion systems. Besides India, the company also has a presence in the USA.
The company plans to use the funds to scale up its manufacturing facilities and implement high-throughput production lines to meet the surging demand from both international and domestic satellite constellations, it said in a statement.
"This funding is a definitive signal of confidence in our operational scalability," said Rohan Ganapathy, Co-Founder and chief executive of Bellatrix Aerospace. "Having successfully flight-qualified our core technologies, we are now focused on building a repeatable, reliable and world-class production propulsion system. We've moved from flight-proven to factory-ready."
The funding comes about four years after it secured an $8 million Series A round in 2022. It also counts BASF Venture Capital GmbH, the corporate venture company of BASF SE, and Mankind Pharma Family Office among its backers.
Published by HT Digital Content Services with permission from VC Circle.