IN FOCUS
In today’s newsletter, we look at:
- India’s spacetech startups take off, but will they reach orbit?
- The spacetech industry’s critical role in combating climate change
Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter spotlights emerging startups and the biggest trends in the tech ecosystem. If you’re not a subscriber, get access by registering here.
For centuries, our night sky has looked pretty much the same.
This helped bring about the idea of constellations as guides. When sailors saw the Crux, they knew they were in the southern hemisphere, while the North Star comforted sailors as a persistent beacon in the northern hemisphere.
But in recent years, our night sky has changed.
The deluge of spacetech startups allowed humans to launch a skyrocketing number of satellites and spacecraft into orbit over the last five years. In 2019, 586 objects were launched. By 2023, that number had grown by almost 5x to 2,664.
This year, the Indian government decided it wanted in on the action. It launched a US$120 million venture fund to support spacetech startups. That’s comparable to what Singapore has committed, but it’s still paltry for an industry that’s expected to reach US$1.8 trillion.
But as Samreen’s Big Story this week reveals, the capital-intensive industry needs more than just government backing to ensure its sustainability.
— Elyssa
India’s spacetech startups take off, but will they reach orbit?
Image credit: Made by Tech in Asia using Midjourney
From satellite builders to space debris collectors, India’s spacetech startups have attracted more than US$300 million in funding as of 2024, with one player even counting NASA as a customer.
Soon, industries and governments set to be critically affected by climate change may also become clients too. For instance, scientists at government institutions say they are increasingly relying on satellites to keep track of weather systems and carbon emissions.
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