Team Indus Tries to Crowd Fund $35 Million to Win Moon Race

Lunar rover (Credit: TeamIndus)

Team Indus is still $35 million short of being able to launch a rover to the moon to win first prize in the $30 million Google Lunar X Prize with less than four months to go.

Team Indus, a private aerospace start-up, and the only Indian team attempting to launch a spacecraft on the moon, is exploring crowd funding, sponsorship and ticketing route as possible fund raising options.

The start-up which has, so far, raised $35 million (approximately ₹250 crore), has to raise the other half of $35 million within a revised deadline of March 2018. The project is estimated to cost close to $ 65-70 million (approximately ₹ 500 crore).

According to Sheelika Ravishankar, Marketing and Outreach, Team Indus, the company would launch a platform (for crowd funding) in the next couple of weeks inviting people to contribute towards its ‘Moon Mission’.

Team Indus needs to launch its lander and rover by early March to win the prize by the end of that month. Team HAKUTO is also scheduled to fly its rover on the same mission, which is scheduled to launch on an Indian PSLV booster.