Indian startup Bellatrix Aerospace raises $3 million

#News(Startup)  [ via IoTForIndiaGroup ]

Bangalore, India-based Bellatrix Aerospace intends to use the funds to demonstrate its thruster technology in space.

IDFC-Parampara, StartupXseed, Karsemven Fund and Survam Partners led the pre-Series A round. GrowX Ventures participated in the round, as did Indian actress Deepika Padukone through KA Enterprises, and the incubators CIIE (from IIM Ahmedabad) and SINE (from IIT Bombay)

[Editors Note: Bellatrix was noted as emerging Startups at IoTNext 2017

See also IISc SID writeup Backstories: Bellatrix Aerospace  ]

Bellatrix is building propulsion systems for all sizes of satellites, he said. The company’s first product is an electric propulsion system that runs on water. Karanam declined to say when Bellatrix’s first thruster would launch.

Bellatrix is not alone in building water-based propulsion systems. Momentus Space, Deep Space Industries and Tethers Unlimited have also detailed plans to use water as thruster fuel.

Karanam said Bellatrix believes it can leverage cost-saving techniques learned by working with the Indian Space Research Organization to win on price in the commercial market.

Bellatrix is working on a launch vehicle that Karanam said will launch around 200 kilograms to low Earth orbit — a part of the small launch market Rocket Lab currently serves with its Electron vehicle.

Karanam said Bellatrix’s launcher likely won’t be ready until 2023 or 2024. Companies in the small launcher market say more than 100 such vehicles are or have recently been under development, creating concerns that many more vehicles are in the works than will survive.

Karanam said Bellatrix is preparing its vehicle in great detail to be one those survivors.

“Even if we are slightly delayed in entering the market, we believe we will be giving a better product,” he said.

B. V. Naidu, Managing Partner of StartupXseed, said in a statement that the venture firm is excited to journey with Bellatrix as the startup grows.

“Emerging out of India and with global applications, their innovations in the area of thrusters, have tremendous opportunity worldwide,” he said.

Bellatrix was inspired by the Orion Molecular Cloud Complex, a star-forming region visible in the night sky near the star Bellatrix in the constellation Orion, which led to the company name, Karanam said.

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