Vesta Space Technology, a Pune based company, has secured $10 million in the funding round from US-based investment and advisory firm Next Capital LLC.
Founded by the Arun Kumar and Sureban in 2018, the company has its specialization in making small satellite platform for scientific and commercial applications.
“The massive financial support will enable Vesta Space Technology to expand the reach of its innovative solutions across India and the world. The company estimates to achieve a 300 percent growth rate post the funding,” a statement said.
“Our association with Next Capital LLC began with my stay in the US for a project and has culminated into a promising financial deal that was cracked in April. This deal is going to be a great financial booster for Vesta Space Technology and will allow us to scale up our operations and expand our footprint globally,” Sureban said.
Vesta Space Tech is aiming to acquire greater momentum by enabling businesses to use the potential of small and nano-satellites in India.