Bangalore-based Bellatrix Aerospace, a new Space company specializing in In-space propulsion systems & orbital launch vehicles, has raised $3 million in pre-Series A round of funding led by group of venture capital investors that include IDFC-Parampara, StartupXseed, Karsemven Fund and Survam Partners.
GrowX Ventures and bollywood actress Deepika Padukone, through KA Enterprises also contributed in the round. Incubators — CIIE of IIM Ahmedabad and IIT Bombay’s SINE also participated.
Bellatrix will use the raised capital in increasing the team size, which currently consists of 14 people. The startup first raised funding from all Indian investors but now its reaching out globally for its next round.
Formed in 2015, by Yashas Karanam and Rohan M Ganapathy, Bellatrix is based out of Indian Institute of Science (IISc), Bangalore’s Entrepreneurship center Society for Innovation and Development (SID), and is developing key technologies in electric propulsion, new generation propellants and launch vehicles. With its dedicated Launch Vehicles for Nano-Satellites and In-Space Propulsion Systems, the startup aims to offer affordable access to Space.
The young space tech startup is said to be developing two product lines with the aim of making space travel greener and more affordable. It has two launch rockets in the pipeline, with both models having re-usable features that can reduce the cost of space travel.
Building propulsion systems for all sizes of satellites, Bellatrix’s first product is an electric propulsion system that runs on water
The startup is also making satellite propulsion systems, using a frontier technology that employs water as a propellant while heating it with microwave-induced plasma. One of its two-stage launch rocket, Chetak, is planned for 2023 launch.
Chetak is a two stage, all-carbon composite constructed vehicle that use liquid methane as fuel and the first stage is designed for reuse.
Notably, Bellatrix counts Dr. M.R. Srinivasan among its advisory, who is a recipient of Padma Vibhushan award for his immense contributions to nuclear science and technology. Dr Srinivasan retired as Chairman of Atomic Energy Commission and Secretary Department of Atomic Energy in 1990 as one of the towering personalities who ably guided Indian Nuclear Programme.