IIT Delhi-incubated deeptech startup Green Aero raises $1.6 million

Green Aero, a deeptech startup incubated at the Indian Institute of Technology (IIT) Delhi, has raised $1.6 million in a seed funding round led by pi Ventures with participation from early-stage venture capital firm Antler.

The funding will support the startup's efforts to develop advanced propulsion systems for both defence and hydrogen-powered civil aviation, a segment in which India has long depended on imports.

Founded in late 2023 by Prithwish Kundu, a former research scientist at the U.S. Department of Energy’s Argonne National Laboratory, Green Aero is pursuing an ambitious vision to make India self-reliant in aerospace propulsion. Kundu, who has previously collaborated with NASA and the U.S. Army, said the startup aims to deliver propulsion systems with twice the efficiency of current global models.

“India has historically lagged in aerospace innovation, but that’s changing fast,” said Shubham Sandeep, managing director at pi Ventures. “Green Aero is building world-class aero engines from the ground up in India, with a laser-sharp focus on efficiency and performance.”

The startup recently claimed a milestone by test-firing The Blue Dragon, which it says is India’s first hydrogen-based aero engine core. The breakthrough, if scaled, could position Green Aero at the forefront of next-generation clean aviation.

India has historically relied on imported turbine engines for high-performance drones, aircraft, and naval vessels. Green Aero seeks to fill this strategic gap by developing proprietary propulsion platforms for aerospace and maritime applications, while also targeting green hydrogen-based solutions for civil aircraft. The startup’s long-term ambition includes commercialising zero-emission engines capable of powering future hydrogen aircraft.

In the near term, the startup  plans to launch its first small-category engine platform within 12 months, while laying the foundation for larger, high-thrust engines suited for supersonic propulsion.

The funding round marks an inflection point for India’s nascent aerospace startup ecosystem. The capital will be used to establish an in-house testing facility, accelerate R&D, and expand engineering and operations teams. It is also preparing for commercial pilots in collaboration with defence and aviation partners.