SpaceFields raises USD 8 lakh in seed funding

NewsDrum Desk
New Update

New Delhi, Feb 26 (PTI) Bengaluru-based space startup SpaceFields on Monday said it has raised USD 8 lakh in seed funding for its venture to manufacture turnkey solid rocket propulsion systems.

Founded in 2021 at the Indian Institute of Science campus in Bengaluru, SpaceFields' seed funding round was led by US-based HVB 88 Angels and Delhi-based deeptech syndicate O2 Angels Network.

The startup plans to double its team in the coming months to fill roles in functions such as aerospace and mechanical design, chemical and propulsion, and avionics.

"The fresh capital will be used towards the development and testing of critical hardware and various subsystems, research and development in energetic materials and expanding the company's team," a statement from the firm said.

The startup, founded by Apurwa Masook, Sudarshan Samal and Rounak Agrawal, has also received funding from Startup India Seed Fund and additional grant support from Boeing India and Karnataka and Odisha governments.

"Our pilots and collaborations span a diverse cohort of customers such as DRDO, ISRO, tri-services, DPSUs like HAL, tactical drone companies, and several aerospace OEMs who require custom-developed solid-fuel powered systems," said Masook, the founder and CEO of SpaceFields. PTI SKU SKU NSD NSD