Key facts
- IN-SPACe has selected three startups for its Technology Adoption Fund (TAF).
- The selected companies are Astrobase Space Technologies, SatSure Analytics India, and TM2SPACE Technologies.
- The TAF scheme, launched in February, aims to help startups commercialize early-stage space technologies.
- The fund supports up to 60% of project costs for startups and MSMEs, capped at Rs 25 crore per project.
- Astrobase will develop a reusable liquid rocket engine, SatSure will build an Earth observation AI model, and TM2SPACE will develop an AI-powered star tracker.
The Indian National Space Promotion and Authorisation Centre (IN-SPACe), the commercial arm of the Indian Space Research Organisation, has selected three startups for funding under its Technology Adoption Fund (TAF). Astrobase Space Technologies, SatSure Analytics India, and TM2SPACE Technologies are the first beneficiaries of the scheme, launched earlier this year.
The selection followed a multi-stage 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 Rs 500-crore TAF scheme aims to help startups and companies commercialize early-stage space technologies. It supports up to 60% of project costs for startups and MSMEs, with a cap of Rs 25 crore per project.
Astrobase Space Technologies will develop an 800-kN reusable liquid rocket engine using liquid oxygen (LOX) and liquefied natural gas (LNG), intended for medium- and heavy-lift launch vehicles. SatSure Analytics India will build Dhaarini, a large Earth observation model designed as an artificial intelligence foundation model for remote sensing applications, expected to provide insights for agriculture, infrastructure, and disaster management. TM2SPACE Technologies will develop an indigenous AI-powered star tracker system to enhance satellite pointing accuracy for high-resolution Earth observation and communications missions.
IN-SPACe chairman Pawan Goenka stated that these projects are practical, market-ready solutions that will increase India's footprint in the global space economy. The TAF-backed projects complement other government support for spacetech startups, including a separate Rs 1,000-crore venture capital fund managed by Sidbi Venture Capital Ltd to support approximately 40 space startups over five years. Rajeev Jyoti, director of the technical directorate at IN-SPACe, noted that the selected projects address critical technology gaps and possess strong commercial potential.