Spacefields, a spacetech startup incubated at IISc in Bengaluru, gets Rs 6.5 crore funding

Spacefields, a spacetech startup incubated at the Indian Institute of Science (IISc) in Bengaluru, has raised $800,000 (or approx Rs 6.5 crore) in its first round of institutional and external funding.

The funding round was led by HVB 88 Angels and O2 Angels Network, with participation from other angel investor networks such as Vinners and Burla Angels. Prominent individual investors include Keshab Panda, Guru Biswal, Athar Shahab, and Kalyan Chakrabarti, among others.

What does Spacefields do?

Founded in 2021 by Apurwa Masook, Sudarshan Samal, and Rounak Agrawal, The startup specializes in designing and manufacturing dual-use rocket propulsion systems. These systems are tailored for aerospace, defense, and space applications.

Notably, the startup has unveiled and tested India’s first aerospike rocket engine in 2023 and has filed six patents for its in-house developed technologies.

What is the purpose of fundraising?

According to founder and CEO Apurwa Masook, the funds will support the development and testing of critical hardware and various subsystems. Additionally, the investment will fuel research and development in energetic materials and facilitate the expansion of the company’s team.

Spacefields plans to double its team size in the coming months, filling roles across aerospace and mechanical design, chemical and propulsion, and avionics.

What Makes Spacefields stand out?

Spacefields distinguishes itself through its focus on custom-developed solid-fuel powered systems, catering to a diverse cohort of customers.

Some of its customers include the Defence Research and Development Organisation (DRDO), Indian Space Research Organisation (ISRO), tri-services, defense public sector undertakings like Hindustan Aeronautics Limited (HAL), tactical drone companies, and several aerospace original equipment manufacturers (OEMs). 

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