OrbitAID Secures $1.5Mn Funding for Space Sustainability Liftoff
Chennai-based space technology startup OrbitAID has successfully raised $1.5 million in a pre-seed funding round led by Unicorn India Ventures, with participation from the Tamil Nadu Startup and Innovation Mission (TANSIM). This infusion of capital marks a significant milestone for the company, which aims to redefine sustainable space operations through its innovative on-orbit servicing and refueling technologies.
Founded in 2021 by Sakthikumar R, Nikhil Balasubramanian, and Mano Balaji, OrbitAID is focused on extending the lifespan and enhancing the capabilities of satellites, a crucial step toward reducing space debris and ensuring the sustainability of space infrastructure. At the heart of its efforts is the company’s proprietary Standard Interface Docking and Refueling Port (SIDRP), a technology designed to streamline docking and refueling processes in space.
OrbitAID plans to utilize the newly secured funds for an ambitious in-space demonstration of its docking and refueling operations. In addition, the company will scale its facilities for on-orbit servicing and further refine the SIDRP technology for commercial deployment. The funding will also support the expansion of its team, enabling it to tackle upcoming projects and collaborations.
OrbitAID Targets Sustainable Space Solutions
The startup has already made notable strides in proving the viability of its technology. Recently, it conducted a successful zero-gravity test of SIDRP in Florida, validating the system’s ability to perform mission-critical tasks, including docking and proximity operations. In fact, over the past year, the company has advanced its docking and refueling systems to Technology Readiness Level (TRL) 7, demonstrating significant progress in its development pipeline. It has also established key industry partnerships to accelerate its mission of sustainable space operations.
Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, emphasized the strategic importance of investing in deep-tech startups like OrbitAID. According to Majumdar, emerging technologies in space tech, drones, and IoT are areas of keen interest for the fund, and OrbitAID’s focus on innovative satellite servicing aligns with these priorities. He noted that the investment would play a pivotal role in advancing OrbitAID’s capabilities and bringing its technology closer to market readiness. Meanwhile, OrbitAID’s CEO, Sakthikumar R, expressed confidence in the company’s ability to revolutionize satellite servicing.
ALSO READ – Riceberg Ventures Launches $20M Deeptech Fund to Fuel Global Innovation
The broader aerospace and defense sector in India is poised for rapid growth, with projections suggesting the market could reach $70 billion by 2030. The surge is driven by increasing demand for advanced infrastructure and strong government support for innovation in the sector. Against this backdrop, startups like OrbitAID are emerging as key players in shaping the future of space technology.
Unicorn India Ventures, the lead investor in this round, has a strong track record of backing visionary startups in the technology space. Founded in 2016 by Bhaskar Majumdar and Anil Joshi, the firm has been instrumental in supporting early-stage companies through its technology-focused funds.
