SpaceFields bags Rs 42 Cr in pre-Series A funding from Globaz Technologies, others
The IISc Bangalore-incubated startup will use the funds to increase manufacturing capacity, obtain regulatory approvals, and grow the team in engineering, operations and business roles.
Spacetech startup SpaceFields has secured Rs 42 crore in a pre-Series A funding round led by Globaz Technologies, with Rockstud Capital and Venture Catalysts as co-lead investors.
Rainmatter, Burla Angel Network, Faad Capital, SIDBI, O2 Angels, and the MeitY Startup Hub also participated in the round.
Founded in 2021 by Apurwa Masook, Rounak Agrawal and Sudarshan Samal, SpaceFields works on research and development in rocket propulsion and solid propellants within India’s space and defence sector.
The Indian Institute of Science Bangalore-incubated startup will use the funds to increase manufacturing capacity, obtain regulatory approvals, and grow the team in engineering, operations, and business roles.
In a recent conversation with YourStory, Masook spoke about the startup’s journey and plans.
SpaceFields Co-founder and CEO Masook highlighted that the investment will speed up production, expand manufacturing to meet India’s strategic needs and global demand, and is supported by a partnership with Globaz Technologies, whose strengths in systems engineering and supply chains complement the company’s propulsion work.
“This investment reflects our strong confidence in SpaceFields’ ability to translate advanced propulsion R&D into high-impact field-ready solutions for India and global markets,” Karan Wilkhoo, Director & Promoter, Globaz Technologies, said adding that the partnership with Globaz in system integration and scale-up manufacturing would support India’s goal of greater technological independence and self-reliance.
The Bengaluru-based spacetech startup has been awarded four contracts through the Ministry of Defence’s iDEX initiative. It has also filed ten patents, of which five have been granted, for technologies developed internally.
The company previously raised about $1.3 million in seed funding from Jamwant Ventures, HVB 88 Angels and others.
Solid propulsion is a key requirement for defence and space missions. This is reflected in the range of organisations using such systems, including the armed forces, defence public sector units, the Defence Research and Development Organisation, tactical drone companies and several aerospace manufacturers that need custom-built solid-fuel systems.
“In just four years, the team has transformed rigorous research into patent-backed solid-propulsion platforms that can strengthen our armed forces, serve NewSpace economy, and catalyse an entire supply chain of precision engineering,” remarked Apoorva Ranjan Sharma, Co-founder and MD of Venture Catalysts.
Edited by Affirunisa Kankudti