India's INSPACe backs three space startups with 500 crore

India's space regulator has selected three startups for the first round of funding from a new government program designed to help private companies commercialize advanced space technologies. The Indian National Space Promotion and Authorisation Centre (INSPACe) announced the selection of Astrobase Space Technologies, SatSure Analytics India, and TM2SPACE Technologies under its Technology Adoption Fund scheme.

The fund, which totals 500 crore rupees, aims to bridge the gap between early-stage development and market success by providing financial support for promising technologies. The three companies were chosen after a multi-stage evaluation process conducted by an expert committee with members from ISRO, government departments, industry, and academia.

Astrobase Space Technologies, based in Bengaluru, will develop a high-thrust, 800-kilonewton closed-cycle liquid rocket engine powered by liquid oxygen and liquefied natural gas. The reusable engine is intended for medium and heavy-lift launch vehicles and future orbital stages. SatSure Analytics India, also from Bengaluru, will build a Large Earth Observation Model named Dhaarini, designed to serve as a foundational AI platform...