Abyom SpaceTech’s Post

Abyom SpaceTech, focused on reusable rocket technology and space infrastructure, has secured $2.5 million (INR 21 crore) in its initial fundraising tranche from SCOPE Ventures. This marks the first installment of its $5.4 million seed round, which is slated to conclude by February 2024. Founded in 2020, Abyom aims to bridge the demand-supply gap in satellite launches by developing reusable launch vehicles (RLVs) and rocket technologies. Plans for the New Funding The Gorakhpur-based startup will allocate the latest funds towards: Expanding its team to speed up innovation. Enhancing R&D activities focused on creating plug-and-play rocket engine testing facilities across India. Developing key technologies, including a control system for reusable rockets, a rocket booster, and portable engine testing equipment for low-Earth orbit missions. “Abyom is charting a new course in the rocket journey, and we eagerly look forward to onboarding more visionary partners soon,” said Jainul Abedin, Founder and CEO of Abyom SpaceTech. About SCOPE Ventures SCOPE, an invite-only networking platform founded by Appalla Saikiran, connects startups, investors, and industry experts globally. Its investment arm, SCOPE VC, launched a $50 million venture fund earlier this year to support innovative startups. Pranchal Gupta | Vikas | Pruthvi | Gabriel | Maria | #spacetechnews #spacetechstartup #startupfunding #startupnews #startupronews #startupro