Indian spacetech startup Manastu Space raised ₹22 crore (US$2.3 million) in an apparent Series A extension. Investors include Gandhi Securities and Investments, the Thacker Legacy Trusts, and angel investors. The Mumbai-based company develops satellite propulsion and debris avoidance technology.
Funding details
The company's regulatory filings state the capital will support research and development, growth, expansion, marketing, and general corporate activities. Manastu may also raise another ₹9.2 crore from Capital A, though that part is not confirmed. It initially issued CCPS worth ₹2.5 crore to Aakash Chaudhry, but those securities were later cancelled.
Company and prior funding
Manastu was founded in 2017 by Tushar Jadhav and Ashtesh Kumar. The company has previously raised about US$9 million from investors including Capital A, Capital 2B, Indian Angel Network, E2MC, and BIG Capital. It last raised US$3 million in a Series A extension in August 2025.
What the technology does
Manastu is developing a hydrogen peroxide-based green propulsion system for satellites. The startup claims the fuel offers 50% higher performance than toxic propellants such as hydrazine. It also builds in-orbit refueling and debris avoidance systems for satellite maneuvering.
The Technology Development Board recently committed ₹116 crore to Manastu through optionally convertible debentures. That support is part of the government's Research Development and Innovation Fund. The fresh capital could help the company advance its technology and move closer to commercial expansion.
Read more: inc42.com