India’s space technology startups are preparing for major commercial expansion in the next two years. Bengaluru: India’s spacetech startups are gearing up for a sharp commercial push over the next two years. Founders say rising demand for space-based data could help the sector build its first unicorns and eventually open the door to public listings. Their vote of confidence comes soon after Prime Minister Narendra Modi on Thursday inaugurated Hyderabad-based Skyroot Aerospace‘s new campus.
Government support has been critical in helping early-stage companies move from R&D to revenue, founders told ET. Agencies such as IN-SPACe and schemes including the ₹1,000 crore venture capital fund and the ₹211 crore allocation under the Fund of Funds for Startups (FFS), will enable startups to further build capabilities that were earlier out of reach, they said.
Indian startups are now developing end-to-end launch systems for the global small-satellite market, easing the load on national programmes and the Indian Space Research Organisation, and expanding the overall capacity, according to the Indian Space Association (ISpA).
PM Modi, while inaugurating the facility, said India’s space sector is attracting global investors as demand for small satellites continues to rise worldwide. “Space has now established itself as a strategic asset. Therefore, the global space economy is going to multiply in the coming years. This is a huge opportunity for the youth of Bharat,” Modi said. Agnikul Cosmos cofounder Srinath Ravichandran said the next one to two years will see more companies shift firmly into commercialisation. “Government support through space policies has given investors confidence to back these companies,” he said.
Founders believe the sector could follow consumer-tech companies into the public markets.
“The unicorn status will be a first milestone, but listing will become important for startups. In five to seven years, deeptech startups could get IPOs in the Indian market like how companies like Swiggy are listing today,” said Tushar Jadhav, cofounder of Manastu Space.
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