Deepika Padukone, group of investors puts $3 million into spacetech startup Bellatrix Aerospace

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Deepika Padukone, one of the Bollywood’s highest paid actors, along with the group of venture capital investors have infused $3 million (approx ₹21 crore) into spacetech startup Bellatrix Aerospace, cited yourstory.

The spacetech startup will focus expanding its team, which comprises 14 members as of now, and demonstrate its thruster technology in space.

Yashas Karanam, co-founder of Bellatrix Aerospace, said that lead investors IDFC-Parampara, StartupXseed, Karsemvem Fund, and Survam Partners led the pre-Series A round. The investors also included Deepika Padukone (through KA Enterprises), GrowX Ventures, and the incubators CIIE and SINE, he added.

Bellatrix Aerospace, an IISc-incubated spacetech startup, is based out of Bengaluru, was founded in 2015 by Rohan M Ganapathy and Yashas Karanam.

It is a research and development company developing orbital launch vehicles (rockets) and electric propulsion systems for satellites.

Presently, the startup is reviewing NASA (National Aeronautics and Space Administration) and European Space Agency standards to make sure their technology meets global standards.

Moving ahead, the startup also aims to build its own launch vehicles.

“The private space industry in India is becoming an interesting space for VC investments, with Indian companies competing aggressively with global counterparts. We evaluated many companies in this area and found the Bellatrix business model and team to be a promising bet. The company will now focus on building world-class products and setting up a global footprint,” Jatin Desai, general partner of IDFC-Parampara said.

Bellatrix hopes to complete its Series A funding round by the end of 2020, and set up offices in the US and Europe, according to Ganapathy.

On the other hand, there are other spacetech startups which are working on the same page as Bellatrix, includes Deep Space, Momentus Space Industries, and Tethers Unlimited.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Dr. Harsh Vardhan shares progress-card of Ayushman Bharat; says hospitals involved in fraudulent acts would be “named and shamed”

Speaking to the media on Tuesday, Union Health Minister Dr. Harsh Vardhan said that the government would come down...

Delhi High court transfers 2G case to special judge Ajay Kumar Kuhar

In a new development to the 2G case, Delhi High Court has transferred the 2G case to the court of special judge Ajay Kumar...

Aam Aadmi Party to launch “Dalit outreach” program ahead of Delhi polls; targets to visit 5,500 Dalit Bastis

In a bid to win the heart of Delhi-voters, Aam Aadmi Party has come out with its new program. This time, the party is...

Amid Middle East tensions, Mike Pompeo embarks on 2-day visit to Saudi Arabia, UAE post oil attacks

Washington DC, Sep 18: Mike Pompeo, the US secretary of state, has on Tuesday embarked on an official two-day visit to the Middle East in...

Ileana D’Cruz looks Sensational in THIS recent Exotic Avatar

Ileana D'Cruz is one of the most sensual and popular Actress in movie industry. She prominently works in the Telugu and Hindi film industry....
- Advertisement -

More Articles Like This