BENGALURU: A city-based startup, incubated at the Society for Innovation and Development (SID) of the IISc, has raised $3 million in a pre-series A round and among the list of investors is actor and city girl Deepika Padukone.
Bellatrix Aerospace, founded in 2015 by a team of young engineers, has the vision to develop advanced in-space propulsion systems and rocket propulsion technologies. The company on Sunday announced the funding and said that the round was led by IDFC-Parampara, StartupXseed, Karsemven Fund and Survam Partners.
“Other notable investors participating in the round include Deepika Padukone (through KA Enterprises LLP), GrowX Ventures, CIIE Initiatives (an incubator at IIM Ahmedabad) and SINE (an incubator at IIT Bombay),” the company said.
A company spokesperson said, “This funding will help to space qualify our products soon. During the coming months, we will be subjecting our thrusters to rigorous ground qualification tests and also work on key innovations that will make our products stand out. We will also be expanding to key global locations. We are also onboarding strategic partners and collaborators for in-orbit demonstration of our products.”
“Today, the space industry is like a giant jigsaw of opportunities with global new space companies each having distinctive capabilities, collaborating to put all the pieces together and bring value into the ecosystem. Coming from India, we leverage our capabilities in fast and frugal innovation, drawing inspiration from ISRO and IISc,” he added.