🇮🇳 India's Emerging Space Tech Industry: A Comprehensive Overview and Market Map
Space Insider
Making Space Technology accessible through media, news, insights and data
Happy Friday, Space Enthusiasts! 🚀
The National Geospatial-Intelligence Agency is reportedly preparing to issue a call to industry worth over $700 million to enhance AI-driven computer vision systems. When released, this will be the largest data labelling request for proposal ever issued by the U.S. government.
This week, the Space Impulse team, led by Analyst Anup Gholap, released the Indian Space Tech Companies Market Map, which includes a comprehensive analysis of 191 Space tech companies and insights into the top 5 players.
Read on to learn about the NGA's $700 million initiative, the current Indian Space Tech landscape, including the key players within the industry, and your weekly news round-up.
In this edition of the Space Impulse Newsletter, you'll find:
As always, we want to hear from you! Whether you'd like to collaborate on a guest post or offer feedback on what you'd like to learn about and see from us, feel free to reach out at hello@spaceimpulse.com.
Join the Space Impulse Team at the 75th International Astronautical Congress!
Space Impulse is proud to partner with the 75th International Astronautical Congress, which will be held from October 14 - 18, 2024, in Milan, Italy!
This year's IAC2024 theme is "Responsible Space for Sustainability." More than 8,000 experts from space agencies, companies, research centers, and associations worldwide will gather at IAC 2024 to discuss how to ensure that space remains accessible and beneficial to all nations.
Join the Space Impulse team to explore the use of Space to support sustainability on Earth and beyond!
Space News Highlight ✨
NGA To Launch $700 Million Initiative For AI-Driven Geospatial Intelligence
The National Geospatial-Intelligence Agency is preparing to issue a call to industry for over $700 million to enhance AI-driven computer vision systems. The initiative includes a significant focus on the NGA’s Maven program, which plays a critical role in military intelligence by helping AI systems accurately identify targets of interest. According to Vice Adm. Frank Whitworth, the director of the NGA, this will be the largest data labelling request for proposal ever issued by the U.S. government.
The agency also announced a new pilot project, the Accreditation of GEOINT AI Models (A-GAIM), to evaluate and certify the reliability and robustness of AI models used in geospatial intelligence.
🇮🇳 India's Emerging Space Tech Industry: A Comprehensive Overview and Market Map
India’s emerging space industry is gaining momentum on several fronts. Over the past decade, private space technology companies in the country have seen a notable rise. The Space Impulse Market Intelligence Platform team has identified nearly 200 space startups across different Upstream and Downstream segments. The database has mapped 191 space tech companies across India by region (see Chart 1), with Bengaluru leading the charge, largely due to its status as the headquarters of ISRO and its established space ecosystem.
In 2020, the Indian government, under the leadership of Prime Minister Modi, enacted landmark policy reforms that opened up the space sector to private enterprises. This marked a decisive shift from a state-controlled industry to one that actively encourages private sector involvement. Key initiatives included the establishment of the Indian National Space Promotion and Authorization Center (IN-SPACe), tasked with facilitating and regulating private sector activities, as well as reducing bureaucratic obstacles to attract greater private investment.
These reforms have been instrumental in fueling the growth of space startups. During the same period, approximately 37% of India’s space companies were founded between 2020 and 2024 (see Chart 2).
The private Space Tech companies collectively raised around $322 million in funding during 2020-2024 (see Chart 3). The Indian government, aiming to build a $44 billion space industry by 2033, has revamped its legislative framework to provide young companies with access to critical infrastructure and technical expertise. ISRO’s chairman, S Somnath recently indicated that India’s space agency expects a 20%-30% increase in its budget in the coming years.
The Top 5 Indian Space Tech Companies in 2024
Location: Bengaluru/California
Founded: 2019
Number of employees: 100+
Current funding level: Series B
Amount raised (USD): ~ $71 million
Latest funding amount: $36 million
Location: Hyderabad
Founded: 2018
Number of employees: 200+
Current funding level: pre-Series C
Amount raised (USD): $95 million
Latest funding amount: $27.5 million
Location: Chennai
Founded: 2017
Number of employees: ~ 200
Current funding level: Series B
Amount raised (USD): >$40 million
Latest funding amount: $26.7 million
Location: Hyderabad
Founded: 2012
Number of employees: 80+
Current funding level: Series A
Amount raised (USD): ~$19 million
Latest funding amount: $15 million
Location: Bengaluru
Founded: 2015
Number of employees: 50+
Current funding level: Series a
Amount raised (USD): $11 million
Latest funding amount: $8 million
Indian Space Tech Companies Market Map
While the companies listed above are making their mark on the world stage, several other space tech companies out of India are hot on the top 5’s tails. Space Impulse has conducted a comprehensive analysis of 191 Space tech companies. For the purpose of this study, the team exclusively focused on commercial entities that align with the Space Impulse Market Intelligence Platform proprietary taxonomy, excluding universities and government bodies. The data is organized into two key sections:
Dashboard
An interactive overview of key data points related to Space Tech companies in India. In the full analysis, users can utilize slicers to filter and generate tailored lists of companies by segment, region, and technology.
Database
Detailed information on each company’s business, technology, and key metrics including the number of employees, headquarters location, and links to their websites and LinkedIn profiles.
If you would like access to the full analysis for all ~190 satellite antenna entities, including revenues, space heritage, funding and more – please leave your details here to receive the underlying Excel.
Despite strong competition from well-established U.S. firms and operating with more modest budgets, Indian space startups are compelled to innovate rapidly. As frequently highlighted by industry leaders like Chandana, India’s success in spaceflight is deeply rooted in its cost-effective approach—something that CNN has reported as being “in the DNA” of Indian space ventures.
On paper, Indian space startups’ potential is clear. Now they just need to bring it to life.
Looking for more insights and resources to learn about and compare commercial, government, and academic space entities? The Space Impulse Market Intelligence Platform has captured data on the space tech industry's key companies, investors, universities and government organizations.
Space Industry Quote of the Week 🗣
"Earlier our space sector was in shackles, but we have freed it. It is an opportunity for our young startups. Today we are seeing private satellites being launched. When intentions are right, we get the desired results."
- India's Prime Minister Narendra Modi , discussing the effects of recent reforms on the space industry in India during his Independence Day address in August 2024 from the Red Fort.
Weekly Space News Roundup 🌌
Safety from Space and AICRAFT , have each secured $100,000 in funding from the inaugural South Australian Space Collaboration and Innovation Fund, a collaboration of Government of South Australia , South Australia Space Industry Centre, and Defence Innovation Partnership . Safety from Space received funding to advance its Lunar Search and Rescue project. This system aims to locate and rescue astronauts stranded in remote areas on the moon. AICRAFT received funding for its ‘Leoflect’ project, which focuses on developing a Synthetic Aperture Radar (SAR) to create detailed images of Earth’s surface.
The United States Space Force ’s Space Systems Command has awarded Northrop Grumman a contract for the second of three planned Deep Space Advanced Radar Capability sites. The DARC initiative is driven by a trilateral partnership involving the United States, the United Kingdom, and Australia. It aims to secure one of the most critical domains for future security. The first DARC site is under construction in Australia, while the new contract marks the beginning of development for the second site in the United Kingdom.
Involve Space has successfully closed a €2.5 million seed round supplemented by €500,000 in convertible loans. The investment was led by Earlybird Venture Capital and participated in by several firms, including CDP Venture Capital SGR , UniCredit , and Plug and Play Tech Center . The new funds will be used to accelerate the development of Involve’s balloon technology. Key technical goals include extending flight duration, optimizing control systems with artificial intelligence, and increasing payload capacity.
The company is focusing on growth with several key industry figures being added to its leadership team, including Alastair Westgarth , the former CEO of Google’s Project Loon, joining Involve’s Board of Directors and astronaut Paolo Nespoli being appointed to the Advisory Board.
ATLAS Space Operations, Inc. has raised $15 million in a new funding round led by NewSpace Capital with contributions from existing investors, Michigan Capital Network and Beringea . The investment will help ATLAS expand its Ground Software as a Service offering and meet growing industry demands for secure, real-time data transmission.
ATLAS operates the largest U.S.-owned global ground station network, consisting of over 50 antennas across 34 stations. Through its proprietary Freedom® Software, ATLAS offers spacecraft operators a unified solution for efficient and cost-effective communication.
New Zealand has accepted an invitation to join the US-led Operation Olympic Defender, a multinational initiative aimed at deterring hostile actions in space and reducing space debris. Judith Collins, New Zealand’s Minister of Defence, emphasized the country’s commitment to responsible space behaviour and maintaining control over its forces, stating that the liaison officer will remain under the command of the New Zealand Defence Force. This decision aligns New Zealand with other Five Eyes intelligence partners—Australia, the UK, and Canada—who are already members of the program.
KBR, Inc. has officially acquired LinQuest , boosting the company's ability to serve national security space missions and strengthening its role in space, air dominance, and connected battlespace operations. Though this acquisition is not expected to impact KBR's Q3 2024 financial results, its contribution to KBR’s future operations will be further discussed during the Q3 earnings call. LinQuest’s integration into KBR’s Government Solutions segment will begin immediately.
Interested in Deep Tech? Check out Digital Twin Insider, The Quantum Insider, AI Insider, and Climate Insider to take your knowledge of deep tech further and even deeper.
Exciting times coming for the Indian defence & space sector, Thanks to Space Impulse for including Cligent Technologies
Bharat Electronics Limited Ambee Urvyam CI Metrics Elena Geo Systems Private Limited Siliconia Technologies Private Limited Suhora Altz Technologies Saankhya Labs Pvt. Ltd. Augsenselab KaleidEO Hughes Communications India Kristellar Aerospace Transcend Satellite Technology Pushpak Products India Pvt. Ltd. NewSpace India Limited (NSIL) Esri India Maan Defence Kepler Aero
Rangsons Aerospace Rapid DMLS Inc Resolute Lab India Safran Data Systems India (Formerly Captronic Systems) SFO Technologies SM Creative Electronics Ltd SPACELABS ANALYTICS & DYNAMICS SPACIM ST Advanced Composites Saraswati Dynamics Private Limited SatLeo Labs SatSure Satlabs Space Systems Shoghi Communications SIKA Interplant Systems Ltd Sisir Radar SkyServe Skylark Drones Skyroot Aerospace Space Aura Space Technology & Education Pvt Ltd Space Kidz India Space Philic Pvt. Ltd. Space Technology and Aeronautical Rocketry Space Zone India SpaceCurve Technologies SpaceFields SpaceSide SpaceTug SpaceMan Craft Spaceride Aerotech SpanTrik Stardour TATA Advanced Systems Limited TakeMe2Space Taramandal Tarang Kinetics (P) Ltd Tata Projects TeamIndus - Axiom Research Labs TechEagle Innovations The Anup Engineering Limited Thrustworks Dynetics Tractrix Opto Dynamics Travancore Aerospace UAV Innovation & Commercial Solutions Pvt Ltd V3 NOVUS PVT LTD VartiX Aerospace Vellon Space Vrisva Space Walchandnagar Industries Limited XDLINX Space Labs Xovian Aerospace Bharat Heavy Electricals Limited Mishra Dhatu Nigam limited ASACO Private Limited - India NUCON AEROSPACE Avantel Alpha Design Technologies Avasarala Technologies Ltd.,
Equinox's Drones Earth2Orbit EDALL SYSTEMS Enlivening Technologies Private Limited Envisys Technologies Pvt Ltd Erisha Space Private Limited EtherealX Expanse Flyingnode Flyvi Technologies Pvt Ltd GISKernel GalaxEye GeoSpoc Geospatial One Pvt. Ltd. Godrej Aerospace Grahaa Space Guerin Technologies HTNP Industries Hathor Rockets Hical Technologies Pvt Ltd Hind High Vacuum Company Pvt. Ltd Hindustan Aeronautics Limited IIO Technologies Pvt Ltd IndoplanetX Space Vault And Research Pvt Ltd Inbound Aerospace Insight360.ai InspeCity Jeanuvs Jeh Aerospace KR Aerospace Systems Private Limited Kawa Space Kineco Kaman Composites India Pvt. Ltd. Kohesi Bond KosmosOne L&T Technology Services Logic Fruit Technologies MTAR Technologies Limited MARS Exploration Pvt Ltd Mahindra Aerospace Manastu Space MegaSat Technologies Private Limited Merlinhawk Aerospace Pvt. Ltd. MomentuX Systems MosChip® N Space Tech Nabhdrishti Aerospace Private Limited NoPo Nanotechnologies Omspace Rocket & Exploration Private Limited Optimized Solutions Limited OrbitAID Aerospace Paras Defence & Space Technologies Ltd. Park Controls & Communications (P) ltd. PierSight Space Pixxel Pramatra Space QNu Labs
AADYAH Space AAKA SPACE STUDIO | 1st in Canada | 1st in Asia AERO2ASTRO AK Aerotek Software Centre Pvt Ltd Altem Technologies Pvt Ltd Aantriksh Abyom SpaceTech Accord Software & Systems Private Limited AdvanceTech Controls Advick AgVenture Pvt. Ltd. Aeroin SpaceTech Private Limited Aganitha Space Technologies Pvt Ltd Agnihotri Aerospace AgniKul Cosmos Aidin Technologies Private Limited Aiila Defense and Aerospace AIRPIX AkashaLabdhi Pvt.Ltd. Amado Tools Ananth Technologies ANTRIX CORPORATION LIMITED Astra Microwave Products Limited Astrogate Labs ASTROME SPACE TECHNOLOGIES Astrophel Aerospace Azista Aerospace Bellatrix Aerospace Bendra Aerospace Private Limited Bharat Aerospace and Satellite Technologies BigDipper Exploration Technologies Blurgs AI Bramhaandco Brahmastra Aerospace Chakradhara Aerospace and Cargo Private Limited (Aerospace Division) Centum Electronics Ltd. CIPHOR Cligent Technologies Connekt Electronics Pvt. Ltd. Cosmicport Cosmo Crawler CUBESAT AEROSPACE LLP Cyient Data Patterns (India) Limited Defel Technologies DEVAS MULTIMEDIA PVT LTD Dhruva Space Digantara Digitron DefSpace Pvt. Ltd. DREAM AEROSPACE