Earlier last week one of Globevestor’s portfolio startups, Agnikul Cosmos, announced an exciting $11M Series A fundraise led by Mayfield India. This is one of the largest funding rounds for a private space-tech startup in India. And the company received backing from not just all its key existing investors, including Speciale Invest, Pi Ventures, Artha and us, but also from prominent angels like Anand Mahindra, Naval Ravikant, Balaji Srinivasan and Nithin Kamath.
Agnikul is a very ambitious small rocket company that is building small, affordable and quick deployment rockets for launching small satellites into low-earth-orbits. We wrote a short post about why Globevestor decided to invest in Agnikul in its previous round and again in this round, and it might be a good read if you’d like to read some bit of our investment thesis.
It seems like the time for space-tech in India is fast emerging and the next decade should see at least one unicorn from India in this area. Our bet is of course on Agnikul!