Mumbai-based spacetech startup Manastu Space has raised $3 million in a funding round led by Capital-A, with participation from existing investors Capital 2B, Indian Angel Network (IAN), E2MC, the Bhagnani Family Office, and Jeet Chandan.
The funding will accelerate the commercial deployment of Manastu Space’s green propulsion and debris-avoidance solutions, alongside its plans to expand into the United States, Europe, and Asia. The company aims to collaborate with satellite OEMs, constellation operators, and service integrators in these regions.
Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, Manastu Space is pioneering a non-toxic alternative to traditional chemical and electric propulsion systems. Its VYOM 2U green propulsion system was successfully test-fired onboard PSLV C-60 in December 2024.
The startup is working towards achieving Technology Readiness Level 9 (TRL-9) – indicating proven long-term operational use in space – from its current TRL-8. Future projects include in-orbit servicing technologies such as satellite refuelling, deorbiting, and mission life extension.
Manastu Space has already secured contracts with Defence Research and Development Organisation (DRDO), French satellite manufacturer Latitude, and Innovations for Defence Excellence (iDEX).
The growth potential for India’s space industry is immense, with projections estimating the sector to reach $40 billion by 2040. This year has already seen significant funding activity in spacetech, including Xovian Aerospace, Omspace, Atrophel, and Inbound Aerospace.
By: Arushi Agarwal
