The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has selected three Indian spacetech startups for funding under its Technology Adoption Fund (TAF) Scheme, with each project receiving up to ₹25 crore. The startups chosen are Astrobase Space Technologies, SatSure Analytics, and TakeMe2Space, marking the agency's first direct investment in Indian startups, according to inc42.com.
IN-SPACe will provide not only financial support but also technical guidance and milestone-linked fund disbursement to ensure successful project implementation. Astrobase Space Technologies, founded in 2024 by former ISRO propulsion engineer Devakumar Thammisetty and CoinDCX co-founder Neeraj Khandelwal, plans to develop a high-thrust closed-cycle liquid rocket engine. SatSure Analytics, established in 2017 by Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju, will work on a large earth observation model called Dhaarini. TakeMe2Space, founded in 2023 by ex-NowFloats cofounder Ronak Kumar Samantray, aims to build AI models that operate directly on satellites in orbit.
This funding initiative by IN-SPACe reflects India’s growing focus on supporting indigenous spacetech innovation, particularly in areas like rocket propulsion, earth observation, and satellite AI. The TAF scheme’s milestone-linked disbursement model is designed to ensure accountability and progress, which could accelerate the development of critical space technologies. These startups are positioned to contribute to India’s space capabilities alongside established players like ISRO.
The ₹25 crore cap per project under the Technology Adoption Fund represents a significant early-stage investment in the Indian spacetech sector. IN-SPACe’s announcement signals a strategic push to foster homegrown space technology development, with the agency committing to ongoing technical support and monitoring to drive these projects toward completion.