Can India’s spacetech sector go to infinity and beyond?

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Hello reader,

I’m a huge sci-fi nerd.

I love almost anything that has outer space in it: Star Wars and its related TV shows, Dune, and The Expanse, which is great as a “realistic” depiction of humanity in a space-faring future.

That’s why I always get excited whenever I hear about things related to space exploration and development. For instance, the launch of the James Webb Space Telescope or even something a little wackier like the US Congress’ hearing on UFOs.

Recently, India landed itself in this “exciting space exploration” category, having successfully deployed the Chandrayaan-3 to the moon’s south pole. This is the first time landing on the south pole has been done, and it’s a clear indication of the country’s capabilities.

That said, will this lead to greater things for India’s spacetech industry?

Today we look at:

• Whether the recent space mission can launch India’s spacetech sector into the atmosphere
• Indonesian VC funds Arise and Centauri merge to form Ascent Venture Group
• Other newsy highlights such as Amartha’s US$200 million working capital offering and Kasikornbank launching a flagship fund.

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To go where no man has gone before

Image credit: Timmy Loen

Big industry successes usually have some kind of trickle-down effect. As people get excited about recent developments, they start paying more attention, and some may even consider putting money in the industry, whether as a bet or because they’ve been inspired to support its growth. With the Chandrayaan-3 mission complete, India’s spacetech industry is now in the spotlight.

• A galaxy close to home: One spacetech startup in India is AgniKul Cosmos, which is poised to conduct its first suborbital test flight for its 3D-printed rocket, Agnibaan SubOrbital Technological Demonstrator, later this year.
• The funds must flow: Several stakeholders in the spacetech sector believe that the Chandrayaan-3 mission’s success could trigger a major funding wave. A partner at Singapore-based VC firm Beenext – which invests in spacetech firms – even compared it to the Apollo 11 mission.
• First Impact: Funding is great, but almost every sector needs government backing of some sort. Thankfully, India’s space policy is great. The Indian government recently unveiled the Indian Space Policy 2023 and formed an agency to help private companies use state-owned space infrastructure.

Read more: Can Chandrayaan-3’s trip to the moon catalyze Indian spacetech funding boom?

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