I’m a reporter at Forbes Asia based in Hong Kong, covering startups, sustainability and financial inclusion. You can email me at catherine.wang [at] forbes.com.
’s Mayfield Fund–raised $26.7 million in a Series B funding round, as investor optimism in India’s space industry takes off.
“Agnikul's pursuit of innovative space solutions aligns with our investment focus on India’s leading-edge deep tech sector,” said Arun Kumar, managing partner at Celesta Capital, in a statement. “We are excited to support their pioneering vision and innovative approach to modernizing and democratizing the space industry.”
Srinath Ravichandran, cofounder and CEO at Agnikul, credits the success of India’s recent lunar mission with raising “the sentiment of every Indian and the space tech sector at large.” In August, the Indian Space Research Organization’s Chandrayaan-3 spacecrafton the moon’s southern polar region, making India the first country to reach this region and the fourth country to land on the moon, after the United States, the former USSR and China.
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