- Bellatrix Aerospace intends to use the funds to demonstrate its thruster technology in space
- Bellatrix currently consists of 14 people but will use the investment to increase that number
- Bellatrix is building propulsion systems for all sizes of satellites
- Bellatrix’s first capital raise came fully from Indian investors, the company will reach out globally for its next round
- Bellatrix’s launcher likely won’t be ready until 2023 or 2024
An Indian satellite propulsion startup with eventual plans to also build a small launch vehicle has raised $3 million from a group of venture capital investors.
Bangalore based Bellatrix Aerospace intends to use the funds to demonstrate its thruster technology in space.
IDFC-Parampara, StartupXseed, Karsemven Fund and Survam Partners led the pre-Series A round. GrowX Ventures participated in the round, as did Indian actress Deepika Padukone through KA Enterprises, and the incubators CIIE (from IIM Ahmedabad) and SINE (from IIT Bombay).
Formed in 2015 at the Indian Institute of Science, Bellatrix currently consists of 14 people, but will use the investment to increase that number, co-founder Yashas Karanam told SpaceNews.
Plan of action
Bellatrix is building propulsion systems for all sizes of satellites, he said. The company’s first product is an electric propulsion system that runs on water.
Bellatrix is not alone in building water-based propulsion systems. Momentus Space, Deep Space Industries and Tethers Unlimited have also detailed plans to use water as thruster fuel.
Karanam said Bellatrix believes it can leverage cost-saving techniques learned by working with the Indian Space Research Organization to win on price in the commercial market. Bellatrix is also reviewing standards from NASA and the European Space Agency to make sure its products meet global expectations.
Karanam said that while Bellatrix’s first capital raise came fully from Indian investors, the company will reach out globally for its next round. Bellatrix Co-founder Rohan Ganapathy said the company hopes to complete its Series A round by the end of 2020.
Karanam said Bellatrix’s launcher likely won’t be ready until 2023 or 2024. Companies in the small launcher market say more than 100 such vehicles are or have recently been under development, creating concerns that many more vehicles are in the works than will survive. Karanam said Bellatrix is preparing its vehicle in great detail to be one those survivors.
