Manastu Space Receives $3 Million Investment for Advancing Their Green Propulsion System
Manastu Space, a space-tech start-up based in Mumbai, has successfully raised USD 3 million (approximately Rs 25 crore) in funding from a combination of institutional and angel investors
Manastu Space, a space-tech start-up based in Mumbai, has successfully raised USD 3 million (approximately Rs 25 crore) in funding from a combination of institutional and angel investors, with Baring India being one of the prominent contributors. The primary objective of this funding is to expedite the development and deployment of Manastu's green propulsion technology, its debris collision avoidance system, and its in-space services. The company has outlined its intentions in a statement.
The pre-series A funding round was spearheaded by Capital 2B, BIG Capital, and E2MC, with additional participation from Baring India through Sanchi Connect, Wealthyvia Ventures, Roots Ventures, Riceberg Ventures, Atomberg founders, Spectrum Impact, and the family office of Aarti Industries promoters, among others.
Additionally, Manastu Space is also actively working on the creation of a fuel station in space. This innovative concept aims to provide satellite refueling services in orbit, effectively extending the operational life of satellites.
Overall, this funding injection will help Manastu Space advance its cutting-edge technologies and further its mission in the field of space exploration and satellite servicing.