Indian space technology startup Cosmoserve Space has secured $6 million in a seed funding round led by Japan-based Rebright Partners. The company plans to use the capital to conduct technology demonstrations and expand operations at its newly inaugurated Hyderabad facility.
Aranya Holdings and Naandi Ventures joined the funding round, while existing investors AUM Ventures and Shakti VC increased their stakes. Cosmoserve has raised more than $9 million since its inception last year. Founder Chiranjeevi Phanindra stated the startup has doubled its valuation since a pre-seed round in September, though he did not disclose the current figure.
Technology Development and Missions
Cosmoserve is developing technology designed to remove defunct satellites and orbital debris to mitigate collision risks. The company aims to optimize costs through in-orbit refueling capabilities and by removing multiple pieces of debris during a single mission.
The startup previously launched Mission Embrace-1 aboard a Skyroot Aerospace Vikram-1 rocket to test its soft robotic capture system. While the robotic petals failed to deploy due to thermal and temperature-related issues, Phanindra said the company has addressed these technical faults. The upcoming Embrace-2 mission will attempt to validate the upgraded capture mechanism.
Facility Expansion and Commercial Goals
Alongside the funding, the company opened its new debris removal facility, Base 1, in Hyderabad. The event featured Union Minister of State Dr. Jitendra Singh and Telangana IT Minister D. Sridhar Babu. According to the company, the site is India’s first private facility equipped with space vision effects and microgravity simulation to test equipment.
Phanindra, a former Indian Space Research Organisation (ISRO) official, expects to complete all technology demonstrations by 2027 and initiate commercial operations by 2028. The company has received letters of intent from satellite operators in the U.S., Europe, and India.