Team StartupCity

• Spacetech startup Agnikul secures $17 Million at a $500 Million valuation
• Funds to expand launch infrastructure, manufacturing, and reusable tech
• New 350-acre space campus in Tamil Nadu to house end-to-end facilities

Agnikul Cosmos has raised $17 million (about Rs 150 crore) in fresh funding, pushing its valuation to roughly $500 million. This makes the Chennai-based spacetech company one of India’s most valuable private players in the sector. The round saw participation from Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, 100X VC, and several family offices.

The new capital will help Agnikul scale production of its rocket and aerospace components, strengthen its reusable launch programs, and enhance its stage recovery systems. The company is also advancing work on a recently granted patent that focuses on extending the operational life of upper-stage systems.

A significant portion of the investment will support Agnikul’s upcoming 350 acre integrated space campus in Tamil Nadu. The facility will bring manufacturing, assembly, and testing operations under one roof, allowing the company to increase launch frequency and streamline development cycles.

Founded in 2017 by Srinath Ravichandran and Moin SPM, Agnikul is building customizable small satellite launch vehicles. Earlier this year, the company completed a controlled ascent test flight with support from ISRO and IN-SPACe, validating key technologies, including its 3D-printed engines.

Also Read: Trishul Space Secures Rs 4 Crore to Boost Rocket Propulsion R&D

Agnikul is now focused on improving the economics of small satellite launches by developing lower-stage recovery features and refining reusable vehicle design.

Although its FY25 financials are yet to be filed, Agnikul reported Rs 9 crore in revenue and nearly Rs 43 crore in losses in FY24. The startup competes with firms like Skyroot Aerospace, Pixxel, Bellatrix, GalaxEye, Dhruva, Vesta Space, Digantara, and InspeCity.