New Delhi: India’s private SpaceTech ecosystem has raised a record $871 million across 241 funding rounds through July 2026, driven by policy reforms that opened the sector to private participation and attracted institutional capital, according to a report released Tuesday.
The report by Tracxn said the ecosystem now comprises 285 companies of which 274 remain active.
A total of 72 startups have secured institutional equity funding across segments including launch vehicles, satellite manufacturing, propulsion systems, space situational awareness, earth observation and downstream analytics, it added.
Government-led regulatory reforms have played a pivotal role in enabling private participation, helping India produce its first SpaceTech unicorn and achieve its first privately developed orbital launch.
The report highlighted Skyroot Aerospace’s Vikram-1 mission — which successfully reached a 450-km low Earth orbit July 18 — deploying four payloads. The mission made India the third country after the US and China to achieve a privately developed orbital launch capability.
It also marked a key milestone for the sector, with India achieving its first private orbital launch within six years of opening the space sector to private players in 2020.
Skyroot plans another test flight later this year before commencing commercial launch operations in 2027.
The report further noted that funding in the sector increased from $43 million across 12 rounds in 2021 to a record $200 million across 53 rounds in 2025, with 2026 maintaining strong momentum.
Five major funding rounds — including Skyroot Aerospace ($50 million Series C) and Digantara ($50 million Series B) and AgniKul Cosmos ($17 million Series C) — together accounted for $158 million, representing more than half of the capital raised across 2025 and 2026.
In addition, seed-stage funding rose sharply from $7 million in 2022 to $62 million in 2025, while late-stage funding emerged for the first time, reaching $17 million in 2025 and $53 million in 2026 so far.
City-wise, Bengaluru continues to dominate India’s private SpaceTech landscape, attracting $495 million across 106 funding rounds. Hyderabad followed with $205 million, while Chennai secured $80 million.
Together, the three cities account for the bulk of equity funding raised by the country’s private SpaceTech companies.
Among startups, Skyroot Aerospace has emerged as the highest-funded company with $150 million, followed by Pixxel ($96 million), AgniKul Cosmos ($76 million), Digantara ($67 million) and Bellatrix Aerospace ($34 million).
IANS
