CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $7 Mn

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Here’s a structured breakdown based on the information provided:

Startup Information

  • Startup: Astrobase
  • Founders:
    • Neeraj Khandelwal (Co-founder of CoinDCX)
    • Devakumar Thammisetty (Senior ISRO Scientist)
    • Pawan Kumar (Senior ISRO Scientist)
    • Prashant M (Senior ISRO Scientist)

Fundraising Details

  • Amount Raised: Over ₹60 crore (~$7 million)
  • Funding Round: Maiden funding round
  • Lead Investor: BanyanCo
  • Estimated Valuation: Approximately ₹623 crore (~$72 million)
  • Date of Fundraise: Not specified, but the context suggests it is recent.

Additional Information

  • Launch Vehicle Targets:
    • Payload Capability: 3 to 10 tonnes
    • Target Launch Cost: $300 million per kilogram by 2034
  • Manufacturing Facility: Located in Bengaluru’s aerospace hub
  • Transition Status: From R&D to manufacturing, with completed designs for an orbital-class launch system.

Other Context

  • Sector Growth: Growing interest in spacetech startups; 13 raised ~$85 million in 2024.
  • Government Support: In 2025, funds of ₹500 crore (~$58 million) and ₹1,000 crore (~$116 million) approved to support space-tech startups by the Indian government through IN-SPACe.

If you need any more details or further breakdown, feel free to ask!

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2025-07-02 07:13:10