Explore Business Standard
SIDBI Venture Capital Limited has been selected as the fund manager for Rs 1,000 crore venture capital fund announced by the government to support private sector firms in the space technology domain. The Indian National Space Promotion and Authorisation Centre (IN-SPACe) made the announcement in this regard on Friday. "M/s SIDBI Venture Capital Limited is selected as the Fund Manager / Investment Manager for the Rs 1,000 crore Venture Capital Fund for the Indian Space Sector," the IN-SPACe said in a statement. The fund will deploy the amount earmarked for it over a period of five years, with a planned deployment of Rs 150 crore in the 2025-26 financial year followed by Rs 250 crore each in the next three financial years and Rs 100 crore in 202930. "The indicative range of investment is proposed to be Rs 10 crore-Rs 60 crore, contingent upon the stage of the company, its growth trajectory and its potential impact on national space capabilities," the government said in an ...
Bengaluru-based startup Pixxel announced the launch of three of the world's highest-resolution commercial hyperspectral satellites from the Vandenberg Space Force Base in California on Wednesday. The Firefly constellation satellites were integrated via Exolaunch and launched aboard the Transporter-12 rideshare mission with SpaceX. The launch took place around 1 am. Pixxel organised a livescreening of the launch at its headquarters in Bengaluru. With the launch of the first three satellites, Pixxel will now be able to deliver more precise critical climate and Earth insights, said founder and CEO Awais Ahmed. Ahmed was addressing reporters on the sidelines of the screening. He said the Firefly constellation was six times sharper than the 30-metre standard of most existing hyperspectral satellites, capturing fine details previously invisible to conventional systems. The Firefly also marks a watershed moment in India's space journey as the nation's first commercial satellite ...