Multinational conglomerate company Mahindra Group Chairman Anand Mahindra said that he has invested undisclosed amount in Chennai-based spacetech startup Agnikul Cosmos Pvt. Ltd.
Anand Mahindra in a tweet said that he has personally invested in the startup. “AGNIKUL is a startup that will build launch vehicles to carry micro/nanosatellites to low earth orbit on demand. They recently test-fired a fully 3D printed semi cryo rocket engine at IIT Madras. Terrific champions of the future. I’ve personally invested in the company,” Mahindra said.
Besides Agnikul Cosmos, Anand Mahindra has also invested in other startups such as Zoomcar, SheThePeople.tv, Epic TV, Naandi Education Support & Training, and Thinkerbell Labs.
Founded in 2017 by Srinath Ravichandran and Moin SPM, Agnikul Cosmos builds orbital-class rockets for micro and nanosatellites. “Sir, it’s an absolute honour to have your support. Thank you for believing in us and our vision,” the startup tweeted.
It recently said that it has successfully test-fired of its semi-cryogenic rocket engine, which has been fully manufactured, as a single piece, using 3-D printing technology.
The startup aims to build a small rocket that is capable of taking up to 100 kg to orbits around 700 km high. Agnikul is funded by investors including Artha India Ventures, Speciale Invest, Pi Ventures, Globevestor, CIIE.CO, LionRock Capital, LetsVenture, and Special Invest.
Earlier in December 2020, It had entered into a partnership with the Indian Space Research Organization (ISRO) to use the ISRO facilities and expertise to build its rocket more efficiently.
Other startups Pixxel, Skyroot, Bellatrix, Satellize, Dhruva Space, Kawa Space, Astrome Technologies, among others working in the space technology segment.