OrbitAID Bags Funding To Offer On-Orbit Servicing Operations

Spacetech startup OrbitAID has raised $1.5 Mn (about INR 12.95 Cr) in its pre-seed funding round led by Unicorn India Ventures. The funding round also saw participation from Tamil Nadu Startup and Innovation Mission (TANSIM).

The Chennai-based startup intends to utilise the fresh capital to conduct an in-space demonstration of docking and refuelling operations, expand facilities for on-orbit servicing operations, further develop its advanced SIDRP (Standard Interface Docking and Refuelling Port) and scale its team capabilities.

Founded in 2021 by Sakthikumar R, Nikhil Balasubramanian and Mano Balaji K, OrbitAID seeks to make a name for itself in the emerging on-orbit servicing (OOS) market. 

It claims to have successfully tested its patented SIDRP on a zero gravity flight in Florida recently and achieved Technology Readiness Level 7 (TRL)  for docking and refuelling tests and secured significant partnerships and collaborations.

“This milestone not only validates our vision but also reflects the dedication of our team in advancing sustainable space operations. With this funding, we will conduct our in-orbit demonstration in space for docking and refuelling, bringing us closer to revolutionising satellite servicing and ensuring a sustainable future in space,” OrbitAID CEO Sakthikumar said. 

The funding announcement comes at a time when the Indian spacetech ecosystem is gaining momentum. On January 15, Google-backed Pixxel launched the first three hyperspectral imaging satellites of its Firefly constellation aboard a SpaceX rocket from California. This marked the first Indian private satellite constellation launch. 

Meanwhile, Digantra also launched  its maiden dedicated surveillance satellite, SCOT (space camera for object tracking) aboard the same rocket yesterday. 

The policies of the Indian government have played a key role in the growth of the spacetech ecosystem over the past few years. Last year, the union cabinet approved setting up a venture capital fund with a corpus of INR 1,000 Cr under the Indian National Space Promotion and Authorization Centre (IN-SPACe) this year. 

However, the funding raised by Indian spacetech startups fell 35% year-on-year (YoY) to $81 Mn last year, even as the number of deals rose to 14 in 2024 from 11 in 2023.

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