The Indian National Space Promotion and Authorisation Centre, on June 11 announced that it has selected three space startups, marking the first set of beneficiaries under its Rs 500 crore Technology Adoption Fund
The three startups — Bengaluru-based Astrobase Space Technologies and SatSure Analytics India, and Hyderabad-based TM2SPACE Technologies — were chosen following an evaluation process involving experts from ISRO, the Department for Promotion of Industry and Internal Trade (DPIIT), the Department of Science and Technology (DST), academia, industry and IN-SPACe.
The fund was launched in February 2025. The scheme offers partial funding of up to Rs 25 crore per project, IN-SPACe said in a release. However, the amount each of the selected three startups is going to receive is not yet known.
Astrobase will develop an 800 kN reusable LOX-LNG closed-cycle liquid rocket engine intended for medium-to-heavy lift launch vehicles.
SatSure has been selected to build “Dhaarini”, a foundational AI model for Earth observation applications that can generate insights across sectors such as agriculture, infrastructure and disaster management.
TM2SPACE will develop indigenous AI-powered star tracker systems for satellites to enable high-precision attitude determination for imaging and communication missions.
“The selection of these projects under the Technology Adoption Fund marks a pivotal step in our mission to transform Indian private entities into global space leaders,” IN-SPACe Chairman Pawan Goenka said.
IN-SPACe said it would provide technical guidance, milestone-linked funding and monitoring support to ensure successful implementation of the projects.
Source: MoneyControl