Agnikul cosmos, IIT-Madras based space tech startup signed into a non-disclosure agreement with the Department of Space to launch vehicle program under Indian National Space Promotion and Authorisation Centre (IN-SPACe). As a part of the deal, Agnikul will work with various ISRO centres to realize access to the technical information and facilities needed to manoeuvre forward with the development of their launcher.
Founded in 2017 by Srinath Ravichandran and Moin SPM, Agnikul cosmos is incubated by IIT-Madras which design, manufacture, test and launch orbital-class rockets for micro and nanosatellites. This is often a very important step that the Space Department has taken to mentor private players to enable them to collaborate with ISRO.
In March 2020, Agnikul has also raised $3.1 Million funding in Pre-Series A round funding via Crunchbase, led by pi Ventures with participation from Hari Kumar (LionRock Capital), Artha Ventures, LetsVenture, Globevestor, CIIE and existing investor Speciale Invest.
The startup received full support and mentoring from the directors of various ISRO centres. All centres appreciated Agnikul's effort and dedication, including the new technologies they are working on, and looked forward to a launch in 2022.
“ISRO’s support to start-ups at an early stage is a strong sense of encouragement for all of us who are looking to build space technology in India. It is an unforgettable moment for all of us at Agnikul to be the first player in the country to be signing such an agreement.” Said Srinath Ravichandran, CEO and co-founder of Agnikul Cosmos.