Agnikul Cosmos, a Space Tech startup, has now secured $3.2 million in a bridge led by the Venture Capital firm pi Ventures.
Some other investors that participated in the round include Hari Kumar and some other investors.
The company, as of now, has plans to use the fresh capital for ground testing, team expansion, and fabrication.
Last year, it secured $404163 in a seed funding round from the Speciale Invest Advisors, said the announcement.
The startup claims that it is the only space technology firm to design a rocket engine using 3D printing technology. The company, as of now, operates from a research center in IIT Madras and is also developing a satellite launch vehicle with a payload capacity of around 100 kg.
“We are doing this by building nimble, reliable, and modular rockets that can put small satellites in space on-demand. This round of investment from pi Ventures, Speciale Invest, and others is a meaningful velocity boost to our journey and will directly help us get much closer to orbit,” Ravichandran, co-founder of Agnikul, said.
