Chennai-based Space Tech Startup up, Agnikul has brought $11 million up in an arrangement A financing round drove by Mayfield India, making it the biggest subsidizing round for a private Indian space innovation organization in India.
Existing financial backers, pi Ventures, Speciale Invest and Artha Venture Fund additionally put resources into this round. The round likewise saw interest from Beenext, Globevestor, LionRock Capital and conspicuous private supporters, including Anand Mahindra, Naval Ravikant, Balaji Srinivasan, Nithin Kamath, Abhishek Singhania, Aarthi Ramamurthy and Sriram Krishnan, Anicut Angel Fund, LetsVenture among others.
The organization said that the assets raised would be sent to fortify and assemble powerful innovation framework, grow ground testing and construct a group to help Agnikul become India’s first private player to dispatch satellites in space. As a piece of this round, Mayfield India’s overseeing accomplice Vikram Godse will join the leading group of the organization.
Before, Agnikul had brought $3.1 million up in a pre-arrangement A subsidizing from institutional financial backers — pi Ventures, Hari Kumar (LionRock Capital), Artha Venture Fund, LetsVenture, Globevestor, CIIE, and Speciale Invest in March 2020 and the seed round of financing from Speciale Invest in 2019. “We sent the last round of financing for ground testing, creation, and group development,” said Srinath Ravichandran, Co-organizer and CEO, Agnikul.