Spacetech startup BAAS Technologies has just concluded its pre-seed funding round led by Inflection Point Ventures with participation from SINE IIT Bombay and a group of angel investors, raising ₹5 crore in the process.
As per the company, it will use the fresh capital to advance research and development in liquid and solid propulsion systems, expand manufacturing infrastructure, procure equipment, build a rocket propulsion testing facility, grow the engineering team, and support engine and flight testing milestones.
Tanmay Kanmahale shared his thoughts on this development, saying, “As a founder building in the space sector, where many ideas are dismissed at a very early stage due to the complexity and risk involved, finding the right investment partner matters as much as raising the capital itself. This round puts us in a stronger position to build our launch vehicles, grow our engineering team, and contribute to India’s private space sector.”
The Pune-Based Startup, founded in 2014 by Tanmay Kanmahale, Prashant Patil, Atharvva Pingale, Swayam Sonar, and Shriniwas Hase, BAAS Technologies, is building four launch vehicles targeted at different mission profiles, ranging from research payloads to satellite deployment. It is also setting up a 100 KN rocket propulsion testing facility spanning 20,000 sq. ft. to support engine development. This fresh funding will help the company bring its plans to fruition.
You Might Also Like: Japan to Fund India’s Grid With $492 Million Energy Deal
India’s overall space economy is expected to reach $40-45 billion over the decade, and BAAS Technologies has a major part to play in making that expectation a reality.
