IAN has invested $3 million in Manastu Space to support the development of its environmentally friendly micro satellite thruster technology.
Target Company Overview
Manastu Space is an innovative space technology company based in New Delhi, India, dedicated to developing the world’s first environmentally-friendly micro satellite thruster and fuel combination. Recently, the company successfully raised $3 million in a Pre-Series A funding round led by the Indian Angel Network (IAN). This funding is a significant milestone for Manastu Space, as it will accelerate the development of cutting-edge space technology while contributing to the burgeoning commercial space industry.
With this investment, Manastu Space aims to advance its green propulsion system for satellites weighing between 100 to 500 kg. The company is on track to implement various technological advancements such as an eco-friendly propulsion system and an autonomous collision avoidance system, crucial for enhancing satellite maneuverability in the increasingly crowded space environment.
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Industry Overview in India
The Indian space industry is rapidly expanding, marked by the government's emphasis on innovation and private sector participation. India’s space program, led by the Indian Space Research Organisation (ISRO), has gained global attention for its various acco
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IAN
invested in
Manastu Space
in 2023
in a Pre-Seed Stage deal
Disclosed details
Transaction Size: $3M