Bellatrix raises USD 3 million in funding, Deepika Padukone

Bellatrix Aerospace, Indian Institute of Science incubated company, working on making access to space more affordable, has raised USD 3million in a 'pre-Series A' round from a bunch of investors, including actress Deepika Padukone. The pre-Series A round was led by IDFC-Parampara, StartupXseed, Karsemven Fund (KITVEN) and Survam Partners (Suman Kant Munjal family office), the company said in a release.

Other notable investors participating in the round include Deepika Padukone (through KA Enterprises LLP), GrowX Ventures, CIIE (an incubator of IIM Ahmedabad) and SINE (an incubator of IIT Bombay), it said. Eiliant Advisors was the sole financial advisor to Bellatrix for this transaction.

"This funding will help Bellatrix to space qualify our products soon. During the coming months, we will be subjecting our thrusters to rigorous ground qualification tests and also work on key innovations that will make our products stand out. We will also be expanding to key global locations," Bellatrix-founder Rohan Ganapathy said.

Bellatrix was founded in 2015 by a team of young engineers with a vision to develop advanced in-space propulsion systems and rocket propulsion technologies. Over the last seven years, the team, with support from experts and advisors, have worked on the development of Propulsion Systems (Thrusters) for all classes of satellites, ranging from heavy (>2 ton) to micro and nanosatellites, the company said.

These in-space propulsion systems add operational life and enhance mission capabilities in satellites, which leads to increased revenue for the satellite operator, it said. The company is currently in the process of onboarding strategic partnerships and also collaboration for in-orbit demonstration of its products, another Co-founder Yashas Karanam said.

Since 2016, Bellatrix started working with the Indian Space Research Organization (ISRO) and other undisclosed customers, with plans to tap into the multi-billion dollar space industry. In 2017, the company received the TDB National Award from the President for 'development of technology with potential for commercialisation'.

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