Agnikul Cosmos has raised about ₹150 crore ($17 million) in fresh funding, valuing the spacetech startup at roughly $500 million and making it one of India’s most valuable private spacetech companies.

The round included participation from HDFC Bank, Artha Select Fund, Prathithi Ventures, Advenza Global and several family offices.

The company plans to use the capital to speed up production, increase launch frequency, and advance work on reusable launch vehicles.

A part of the funding will also go into developing a new integrated space campus coming up on 350 acres allocated by the Tamil Nadu government. This facility will house design, manufacturing, testing, and operations under one roof.

Co-Founder and CEO Srinath Ravichandran said the new round supports the company’s next phase of en

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