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India Startup
A Chennai-based space startup is all set to demonstrate its technology that would allow re-fuelling of satellites orbiting the earth, extending their lifespan and help address the challenges of space debris. OrbitAid Aerospace is set to launch AyulSAT, a dedicated tanker-satellite, onboard the Polar Satellite Launch Vehicle (PSLV) on Monday to perform internal propellant transfer, power transfer and data transfer using its Standard Interface for Docking and Refuelling Port (SIDRP). "We will first demonstrate transfer of fuel from one tank to another within the satellite," Sakthikumar Ramachandran, founder and CEO, OrbitAID, told PTI. Sakthikumar said AyulSAT will be India's first commercial docking and refuelling interface deployed in-orbit. "We will soon have fuel stations in orbit that will enable life extension of satellites - both in low earth and geo synchronous orbits," he said. Sakthikumar said later this year OrbitAID will launch another satellite -- the designated chaser
Startup Flipspaces, which provides design and building solutions for commercial spaces, has raised USD 35 million (around Rs 297 crore) from investors to expand its business. In a statement on Wednesday, the company said it has "raised USD 35 million in primary and secondary capital, led by tech growth investor Iron Pillar and supported by existing backer, Prudent Investment Managers, and incoming Synergy Capital." This capital raise will be used to accelerate growth across India, the US, and UAE, strengthen its technology and explore inorganic growth opportunities in new geographies and adjacent categories. Flipspaces provides a fully integrated, tech-first design and building solution focused on SMB (Small and Medium Business) spaces, which accounts for approximately 60 per cent of the total interior design and build market for commercial spaces. "We are building a technology-led brand aimed at transforming the customer experience in commercial design and build, globally. Our ...
India can expect over USD 600 billion in alternative investments in next three years to fuel the startup ecosystem, according to experts. This influx of capital is anticipated to foster innovation, support entrepreneurship, and create an enabling environment for new ventures to thrive, they said at the launch of Centre for Financial Markets (CFM) by IMT in Mumbai last week. India's startup ecosystem is poised for significant growth, with projections indicating that over USD 600 billion in private equity and venture capital (PE/VC) investments will flow into the country over the next three years, Atish Chattopadhyay, Director of IMT Ghaziabad said in a statement. This figure represents 13 per cent of the estimated USD 4.7 trillion required (including government investments, corporate retention, PE/VC funding, corporate debt, initial public offerings (IPOs), and other sources) to achieve a USD 5 trillion economy by FY2027, he added. As investors recognize the immense potential of Ind
Commerce and Industry Minister Piyush Goyal on Thursday assured "excellent" support to startups and said domestic investors are now also recognising capabilities and the value proposition of investing in these enterprises. As per estimates, he said Indian startups have attracted about Rs 13 lakh crore funding in the last nine years, that is about USD 150 billion. On average, startups are receiving about USD 15 billion of funds every year and in a good year, it can go up to USD 22-25 billion, he said at the celebration event of nine years of Startup India here. "I promise you we are going to have excellent support, now also from domestic investors who are more and more aligning themselves with the startup India vision, who are more and more understanding the capabilities of young India and they are recognising the value proposition that you bring to the table," he said. He added that funding instruments like the Fund of Funds Scheme (FFS), which is administered by SIDBI and financed