India’s space ride powered by Rs 1,000 cr VC fund for startups

Space startups in Bengaluru are lauding the Union Budget proposal for a Rs 1,000 crore Venture Capital (VC) fund as a game-changer. The fund aims to boost India’s space economy by five times over the next decade, encouraging innovation and entrepreneurship in the sector.

Key players like Awais Ahmed of Pixxel and Srinath Ravichandran of Agnikul Cosmos see this fund as a catalyst for larger players to emerge and align with the government’s vision for a bigger share in the global space market. India’s space economy is projected to grow significantly by 2033, prompting leaders like Pawan Kumar Chandana of Skyroot Aerospace to emphasize the importance of strategic investments.

Vishesh Rajaram of Speciale Invest believes that the VC fund, along with recent FDI policies, will attract more investments nationally and internationally. Anirudh Sharma of Digantara stresses the need for a strategic approach and domestic demand, while Apurwa Masook of SpaceFields sees potential benefits for investors with the fund and the abolishment of the Angel Tax.