Total amount raised
$61.2 Millions
Latest funding date
Location
Agnikul has successfully raised $61.2 million over multiple funding rounds, with its latest being a Series B. The company specializes in designing, manufacturing, and launching orbital-class rockets for micro and nano satellites.
Keep reading to explore the intricacies of Agnikul's fundraising journey and the investors backing this innovative space tech startup.
What Is Agnikul?
Agnikul, founded in 2017, is a space tech startup based in Chennai, Tamil Nadu, India. The company specializes in designing, manufacturing, and launching orbital-class rockets for micro and nano satellites.
Founded by Moin SPM, Satyanarayanan Chakravarthy, and Srinath Ravichandran, Agnikul operates out of the National Center for Combustion R&D at IIT-Madras. Their mission is to provide accessible space solutions for payloads.
With a team of 101-250 employees, Agnikul is making significant strides in the space industry, focusing on innovation and efficiency in satellite launch services.
How Much Funding Has Agnikul Raised?
- Series B
- Amount Raised: $26.7M
- Date: October 2023
- Lead Investors: Celesta Capital, Rocketship.vc, Artha Venture Fund, Artha Select Fund, Mayfield India
- Valuation at Round: Estimated around $180M
- Motivation Behind the Round: To scale up technology for commercialization and invest in infrastructure like mobile launchpads and test rigs.
- Series B
- Amount Raised: $20M
- Date: November 2022
- Lead Investors: Rocketship.vc, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop small satellite launch vehicles and enhance operational capabilities.
- Series A
- Amount Raised: $11M
- Date: May 2021
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop core technology and initial product development.
- Seed Round
- Amount Raised: ₹234M
- Date: March 2020
- Lead Investors: Pi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operational setup.
- Seed Round
- Amount Raised: ₹30M
- Date: February 2019
- Lead Investors: Speciale Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To initiate the development of launch vehicle technology.
Agnikul has raised a total of $84.4 million to date. The current valuation is estimated around $180 million.
Key Investors
- Celesta Capital
- Details: Celesta Capital is a venture capital firm that focuses on technology and innovation-driven companies. They are known for their collaborative approach with space regulators and entrepreneurs.
- Investment Focus Areas: Technology, innovation, high-growth sectors
- Notable Investments: Not publicly disclosed
- Rocketship.vc
- Details: Rocketship.vc is an early-stage venture capital firm that invests in technology startups. They have a global investment strategy and focus on data-driven decision-making.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Not publicly disclosed
- Artha Venture Fund
- Details: Artha Venture Fund is an early-stage venture capital firm that invests across various sectors. They aim to support startups with high growth potential.
- Investment Focus Areas: Early-stage startups, various sectors
- Notable Investments: Not publicly disclosed
- Artha Select Fund
- Details: Artha Select Fund focuses on selective investments in high-growth potential companies. They are part of the Artha Group, which has a diverse investment portfolio.
- Investment Focus Areas: High-growth potential companies
- Notable Investments: Not publicly disclosed
- Mayfield India
- Details: Mayfield India is a venture capital firm that invests in early to growth-stage companies in India. They have a strong focus on supporting innovative startups.
- Investment Focus Areas: Early to growth-stage companies in India
- Notable Investments: Not publicly disclosed
What's Next for Agnikul?
With the recent $26.7 million Series B funding, Agnikul is poised to capitalize on the burgeoning small satellite launch market. The company plans to scale its technology for multiple launches, invest in mobile launchpads, and validate its Agnibaan rocket through sub-orbital tests. This positions Agnikul to meet the growing demand for cost-effective, on-demand satellite launches, a market expected to expand significantly as more private and governmental entities seek space access.
Future fundraising opportunities appear promising, especially as Agnikul demonstrates successful launches and technological advancements. The Indian government's push to privatize the space sector and the credibility gained from national space achievements like Chandrayaan-3 further bolster investor confidence. However, Agnikul faces challenges such as intense competition from other well-funded startups, technical hurdles in rocket development, and regulatory compliance. Overcoming these obstacles will be crucial for sustaining growth and attracting further investment.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Agnikul and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
