Spacetech Startup Manastu Space Secures ₹22 Cr in New Funding

Indian spacetech startup Manastu Space has raised ₹22 crore ($2.3 million) in an extension of its Series A funding round. The investment comes from Gandhi Securities and Investments, the Thacker Legacy Trusts, and several angel investors, according to regulatory filings.

Key Takeaways

• New funding secured: The company raised ₹22 crore from a group of investors, including Gandhi Securities and Investments and Thacker Legacy Trusts.
• Potential future investment: Filings suggest the startup may raise an additional ₹9.2 crore from Capital A, though this transaction remains unconfirmed.
• Government backing: The Ministry of Science and Technology’s Technology Development Board recently committed ₹116 crore to Manastu via optionally convertible debentures.
• Technology focus: Manastu develops green propulsion systems for satellites, utilizing a proprietary hydrogen peroxide-based fuel designed to be more efficient and environmentally friendly than hydrazine.
• Market operations: Founded in 2017, the company aims to reduce orbital congestion through debris avoidance systems and in-orbit refueling technologies.

Strategic Expansion and R&D

Regulatory disclosures indicate that Manastu Space plans to allocate these funds toward research and development, business growth, and general corporate activities. The startup, established by Tushar Jadhav and Ashtesh Kumar, focuses on sustainable space operations. Its core technology involves a hydrogen peroxide-based fuel that the company asserts offers 50% higher performance compared to traditional toxic propellants.

Beyond propulsion, the company’s debris avoidance systems are designed to assist satellites in maneuvering, avoiding collisions, and performing controlled de-orbiting at the end of their operational lifespans. Manastu competes in a global satellite propulsion market projected to reach $4.7 billion by 2031 with a compound annual growth rate of 17.6%.