Chennai-based Agnikul Cosmos has raised about ₹150 crore (~$17 million) in fresh funding on November 22. The company secured the round at a valuation of $500 million. The funds will support its upcoming launches, stage-recovery programme, and its integrated space campus on 350 acres allocated by the Tamil Nadu government.
The round included participation from family offices and institutional investors, including Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, and 100X.VC. Agnikul plans to scale production of rocket and aerospace components and advance work on reusable systems.
CEO and co-founder Srinath Ravichandran said the funding will help the team work on stage recovery and upper-stage extension. “This fund raise allows us to work on such missions while also focusing on scaling launch frequency and building for the world, from India,” he added.
Agnikul will also strengthen its reusable launch architecture. The company recently secured a patent that extends the operational life of upper stages. Co-founder and COO Moin SPM said, “With growing demand and more than a dozen customers eager to launch with us, scaling our operational depth was the natural next step.”
Investors expressed confidence in the company’s global potential. Arun Kumar, managing partner at Celesta Capital, called Agnikul “a standout example of the cutting-edge deep tech innovation we see in India today.”
The company also recently announced a new large-format metal additive manufacturing unit to expand its 3D-printing capability beyond engines. Agnikul’s customer base spans India, the Middle East, and Australia.
Anirudh A. Damani of Artha Select Fund said the company’s work shows that “India’s private space industry has arrived and the world is now watching closely.”
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