Space tech startup InspeCity raises pre-seed round
The deeptech venture capital firm Speciale Invest, along with Antler India and Veda VC, led a pre-seed investment round on behalf of the spacetech business InspeCity that netted InspeCity $1.5 million (Rs 12.3 crore). In addition, Anicut Capital, DeVC India, and others took part in the round.
The Thane-based company will use the additional funds to expand its technological stack and hire new employees. InspeCity, which was established in 2022, seeks to create the first metropolis in an appropriate orbit between Earth and the moon. The business is actively creating the necessary technology to construct those cities.
Arindrajit Chowdhury, CEO of Inspecity, "this will help us develop our technology for in-orbit servicing and autonomous robotic platforms." In addition to a grant of Rs 0.1 crore from the TIH Foundation at IIT Bombay, the company had earlier obtained a grant of Rs 1.5 crore from the iDEX platform.
The Thane-based company will use the additional funds to expand its technological stack and hire new employees. InspeCity, which was established in 2022, seeks to create the first metropolis in an appropriate orbit between Earth and the moon. The business is actively creating the necessary technology to construct those cities.
Arindrajit Chowdhury, CEO of Inspecity, "this will help us develop our technology for in-orbit servicing and autonomous robotic platforms." In addition to a grant of Rs 0.1 crore from the TIH Foundation at IIT Bombay, the company had earlier obtained a grant of Rs 1.5 crore from the iDEX platform.
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