SpaceFields Raises ₹42 Crore in Pre-Series A Funding to Boost Rocket Propulsion Tech

Bengaluru-based deeptech startup SpaceFields has raised $5 million (₹42 crore) in a pre-Series A funding round on September 19, 2025, led by Globaz Technologies with participation from Rockstud Capital, Venture Catalysts, Rainmatter, and others. This funding marks a significant milestone for the IISc Bangalore-incubated company, which specializes in advanced solid-fuel propulsion systems for defence and aerospace applications. The capital will fuel manufacturing scale-up, regulatory approvals, and team expansion, strengthening India’s sovereign tech capabilities. In this article, we explore the funding details, strategic implications, and SpaceFields’ growth trajectory in India’s burgeoning spacetech ecosystem. YourStory

SpaceFields’ Pre-Series A Round: Key Details

Founded in 2021 by Apurwa Masook, Rounak Agrawal, and Sudarshan Samal—all alumni of VSSUT Burla—SpaceFields has secured its first major institutional funding after a $1.3 million seed round in 2024 from Jamwant Ventures, HVB 88 Angels, and others. Key highlights of the ₹42 crore raise include:

• Lead Investors: Globaz Technologies anchored the round, with co-lead participation from Rockstud Capital and Venture Catalysts.
• Other Backers: Rainmatter (Nithin Kamath’s fund), Burla Angel Network, Faad Capital, SIDBI, O2 Angels, and MeitY Startup Hub also contributed.
• Fund Utilization: The proceeds will expand manufacturing capacity, obtain critical regulatory certifications, and hire across engineering, operations, and business functions.
• Strategic Partnership: SpaceFields will collaborate with Globaz on developing dual-use technologies for India’s defence and aerospace value chain, leveraging Globaz’s expertise in systems engineering and supply chains.

SpaceFields has already won four contracts under the Ministry of Defence’s iDEX initiative and filed 10 patents, with five granted, focusing on novel propulsion innovations.

Why This Funding Matters for SpaceFields

The pre-Series A round comes at a pivotal time for India’s spacetech sector, valued at $8.4 billion and projected to reach $13 billion by 2025. Key factors underscoring its importance:

• Technological Edge: SpaceFields’ focus on solid-fuel propulsion for UAVs, rockets, and spacecraft addresses India’s need for indigenous, high-performance systems, reducing reliance on imports.
• Market Opportunity: With India’s space economy growing at 15% annually, driven by ISRO’s successes and private players like Skyroot and Agnikul, funding accelerates commercialization.
• Defence Alignment: The partnership with Globaz supports Atmanirbhar Bharat, enhancing sovereign capabilities in critical dual-use technologies.
• Investor Confidence: Backing from marquee investors like Rainmatter and Venture Catalysts signals strong belief in SpaceFields’ R&D prowess and market potential.

Co-founder and CEO Apurwa Masook noted: “This investment will accelerate production and expand manufacturing to meet India’s strategic needs.”

Implications for India’s Spacetech Ecosystem

SpaceFields’ funding has broader ripple effects:

1. Sector Acceleration: Bolsters India’s 100+ spacetech startups, contributing to the $44 billion global market by 2033, with propulsion as a key enabler.
2. Job Creation: Team expansion will create high-skill roles, aligning with Infosys’ 20,000 hires and the $20 billion Semiconductor Scheme’s talent push.
3. Sovereign Tech Boost: Strengthens defence self-reliance, supporting iDEX and reducing import dependency in aerospace.
4. Global Competitiveness: Positions Indian firms to compete with international players, amid trends like SpaceX’s $17 billion spectrum deal.

The Bigger Picture: India’s Spacetech Ambitions

SpaceFields’ raise reflects India’s rising spacetech momentum, from ISRO’s Gaganyaan to private launches by Skyroot. With $1.2 billion invested in 2024 alone, the sector aligns with Atmanirbhar Bharat and global shifts like Abu Dhabi’s AI-native government. As electronics manufacturing grows sixfold and festive e-commerce surges 115%, spacetech funding like this drives innovation and economic diversification.

Challenges include regulatory hurdles and scaling R&D, but partnerships like Globaz-SpaceFields pave the way.

What’s Next for SpaceFields?

Post-funding, key milestones include:

• Scaling manufacturing facilities for commercial propulsion systems by mid-2026.
• Securing additional iDEX contracts and international certifications.
• Expanding patents and R&D for next-gen solid-fuel tech.
• Deepening Globaz collaboration for integrated defence solutions.

Conclusion

SpaceFields’ ₹42 crore pre-Series A raise in 2025 is a vote of confidence in India’s spacetech potential, enabling propulsion innovations for defence and exploration. Led by Globaz Technologies, the funding will accelerate manufacturing and self-reliance, positioning SpaceFields as a key player in the sector’s growth story.