Indian startup Agnikul Cosmos signed a framework memorandum of understanding (MOU) with India’s Department of Space on Friday for access to ISRO facilities and expertise for the development of its two-stage small-satellite Agnibaan launch vehicle.
Existing investors – Speciale Invest, pi Ventures, and Artha Ventures – along with prominent angels including, Naval Ravikant, Balaji Srinivasan, Anand Mahindra,, Aarthi Ramamurthy, and Sriram Krishnan invested in this round
CHENNAI, India, May 19, 2021 (Agnikul PR) — Space tech startup,Agnikul today announced raising $11 million in a Series A funding round led by Mayfield India, making it the largest funding round for a private Indian space technology company in India. Existing investors pi Ventures, Speciale Invest, and Artha Ventures also invested in this round. The round also saw participation from BEENEXT, Globevestor, LionRock Capital and prominent angel investors Anand Mahindra, Naval Ravikant, Balaji Srinivasan, Nithin Kamath, Abhishek Singhania, Aarthi Ramamurthy; and Sriram Krishnan, Anicut Angel Fund, among others. As a part of the round, Mayfield India’s managing partner Vikram Godse will be joining the board of the company. The funds will be deployed to strengthen the technology infrastructure, expand ground testing and build a world class team to help Agnikul become India’s first private player to launch satellites in space.
Indian startup Agnikul Cosmos Launch Vehicles has signed a memorandum of understanding (MOU) to test its Agnibaan booster at the Pacific Spaceport Complex – Alaska on Kodiak Island.
The agreement commits Agnikul and Alaska Aerospace Corporation to working together to obtain regulatory and export control approvals from the Indian and American governments for an initial test launch in 2022, CNBC TV18 reports.
“We are thrilled Agnikul has partnered with Alaska Aerospace for high inclination flight testing. Agnikul has established itself as a leading rocket technology company, and we are pleased Alaska’s proven launch infrastructure and expertise continue to attract new space launch companies from around the world,” said Mark Lester, president and CEO of Alaska Aerospace.