Newly launched Bengaluru-based space-tech company Astrobase, co-founded by Neeraj Khandelwal, co-founder and CTO of CoinDCX, has raised ₹60 crore (approx. $7 million) in its maiden funding round led by BanyanCo, targeting cost-efficient satellite launch vehicles. Astrobase startup reveals India’s growing momentum in private aerospace innovation.
🌐 Founding Team & Vision
- Neeraj Khandelwal, IIT-Bombay alumnus and CTO of CoinDCX, leads Astrobase with both strategic direction and initial personal investment.
- Supported by ex-ISRO scientists Devakumar Thammisetty, Pawan Kumar, and Prashant M, the team brings deep rocket propulsion and cryogenic payload expertise.
🔧 Tech Focus & Ambitions
- Astrobase is developing a methane-oxygen full-flow staged combustion engine, aiming to launch 3–10 tonne payloads cost-effectively.
- Three launcher variants are planned: fully expendable, partially reusable, and ultimately fully reusable, with a target cost of $300 million per kilogram by 2034—a bold long-term aim.
🏭 Infrastructure & Progress
- Heading toward production readiness, Astrobase has secured an engine manufacturing facility in Bengaluru’s aerospace hub.
- Engine and full orbital vehicle designs have been completed, signifying a key milestone from R&D to production.
💰 Funding & Valuation
- The $7 million (₹60 crore) funding round—led by BanyanCo—estimates Astrobase’s valuation at approximately ₹623 crore ($72 million)
- Plans are underway for a further fundraising round to support ongoing R&D and scale manufacturing.
🌍 India’s Space-Tech Wave
- This launch comes amid a broader boom: in 2024, Indian space-tech startups raised $85 million across 13 deals; H1 2025 has already seen over $15 million in five deals. entrackr
- Government initiatives like the IN-SPACe fund (₹500 crore) and a VC support pool of ₹1,000 crore aim to fuel the private space sector and reduce import dependency.
✅ Why Astrobase Matters
| Factor | Significance |
|---|---|
| De-risking space access | Building India’s indigenous launchers reduces reliance on international carriers. |
| High-tech engine R&D | Methane-based full-flow combustion is rare globally—India’s leap forward. |
| Homegrown talent | With leaders from CoinDCX and ISRO pedigree, Astrobase combines business and technical strength. |
| Sector signal | Reflects rising investor confidence and governmental backing for space startups. |
🔭 What’s Next
- Prototype development in the engine manufacturing facility; test firings anticipated.
- Expansion of funding, including follow-on rounds aligned with engineering progress.
- Market entry by offering end-to-end satellite launch services for Indian and global clients.
✅ Summary
Astrobase—a collaboration between CoinDCX’s Neeraj Khandelwal and former ISRO scientists—has raised $7 million to develop advanced methane-based rocket engines and orbit-class vehicles. With strong valuation, government backing, and a path to manufacturing, Astrobase startup underscores India’s fast-growing private space ecosystem.
