ISRO Director Somnath reportedly stated that Space-tech start-ups are looking forward to commercial opportunities in 2020.
The Indian Space Research Organisation (ISRO) in the recent past has been showing their interests in India’s space and aviation programmes. But the burden on state-run ISRO might now ease off with the emergence of space-tech start-ups in India.
Moving ahead, according to S Somnath, Director at Vikram Sarabhai Space Centre (VSSC), space-tech start-ups are also likely to play a vital part in the production of new craft and navigation systems. VSSC is known to be a space research centre that works under ISRO.
Talking about the side-lines of the event, Somnath also stated that the space-tech start-ups in the next revolution industry are going to tap the commercial opportunities for Indian space sector by 2050.
As per reports currently there are 120 start-ups in this sector however earlier in 2014 there very few. After 2014, about 64% of space aerospace start-ups emerged.
Somnath reportedly stated that certain start-ups have often approached ISRO with prototypes for testing as well as evaluation. Wherein ISRO is not assured about providing India’s space programmes to private players, Somnath mentioned that the organization is willing to tie up with a large private company and support space-tech start-ups.
Somnath during his keynote speech also noted that multiple foreign companies are willing to partner with ISRO for India’s space programmes, Companies like Airbus are looking for opportunities to set up their manufacturing bases in India.
Leaders at the space-tech segment are Propulsion and rocket technology venture Bellatrix and satellite makers that aspire to bid for entire mission rather than piece mean components such as Dhruva Space and Team Indus. Also, certain start-ups like Kawa space are democratising space by offering space-as-a-service.
Whereas Bellatrix Aerospace has secured $3 Mn in a Pre-series A round which was led by IDFC-Parampara, Karsemven Fund (KITVEN), StartupXseed and Survam Partners in June 2019, Kawa Space bagged raised an amount which is yet to be disclosed from Vijay Shekhar Sharma, Paytm Founder as part of its pre-series A funding round last year in September.